Chevron Corporation $CVX Shares Bought by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. grew its holdings in Chevron Corporation (NYSE:CVX) by 106.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,260 shares of the oil and gas company’s stock after buying an additional 5,797 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Chevron were worth $1,612,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Solitude Financial Services lifted its holdings in Chevron by 8.2% in the second quarter. Solitude Financial Services now owns 25,325 shares of the oil and gas company’s stock valued at $3,626,000 after acquiring an additional 1,913 shares during the last quarter. Shell Asset Management Co. raised its position in Chevron by 21.4% in the second quarter. Shell Asset Management Co. now owns 51,115 shares of the oil and gas company’s stock valued at $7,319,000 after purchasing an additional 9,002 shares during the period. Mutual Advisors LLC lifted its stake in shares of Chevron by 7.3% in the 2nd quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock valued at $13,743,000 after purchasing an additional 6,058 shares during the last quarter. Costello Asset Management INC lifted its stake in shares of Chevron by 26.9% in the 2nd quarter. Costello Asset Management INC now owns 16,694 shares of the oil and gas company’s stock valued at $2,390,000 after purchasing an additional 3,541 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Chevron by 25.7% during the 1st quarter. Jones Financial Companies Lllp now owns 697,011 shares of the oil and gas company’s stock worth $115,887,000 after purchasing an additional 142,662 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 275,000 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the sale, the director owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. This trade represents a 19.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by corporate insiders.

Chevron Price Performance

Shares of CVX opened at $149.95 on Friday. The company has a market cap of $301.93 billion, a P/E ratio of 21.09, a PEG ratio of 8.91 and a beta of 0.68. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average price is $152.74 and its 200 day moving average price is $152.08.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The business had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter in the previous year, the firm posted $2.48 earnings per share. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s payout ratio is presently 96.20%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research analyst reports. Barclays reduced their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Wells Fargo & Company increased their price objective on shares of Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Zacks Research lowered Chevron from a “hold” rating to a “strong sell” rating in a research report on Monday, November 24th. Finally, Bank of America decreased their price target on Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $166.00.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.