TD Private Client Wealth LLC Acquires 7,137 Shares of Chevron Corporation $CVX

TD Private Client Wealth LLC increased its stake in shares of Chevron Corporation (NYSE:CVX) by 9.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,495 shares of the oil and gas company’s stock after buying an additional 7,137 shares during the quarter. TD Private Client Wealth LLC’s holdings in Chevron were worth $13,432,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Quaker Wealth Management LLC raised its holdings in shares of Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares during the last quarter. Decker Retirement Planning Inc. purchased a new stake in Chevron in the 3rd quarter valued at about $34,000. Vermillion & White Wealth Management Group LLC lifted its position in shares of Chevron by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after buying an additional 118 shares in the last quarter. Marquette Asset Management LLC purchased a new position in shares of Chevron in the 3rd quarter worth approximately $41,000. Finally, IMG Wealth Management Inc. grew its holdings in shares of Chevron by 52.3% in the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 91 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent analyst reports. Zacks Research upgraded Chevron from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 23rd. Bank of America lowered their target price on Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Raymond James Financial restated an “outperform” rating and set a $160.00 price target (down previously from $170.00) on shares of Chevron in a research report on Friday, October 17th. Scotiabank lifted their price objective on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Finally, Citigroup reduced their target price on Chevron from $185.00 to $179.00 and set a “buy” rating for the company in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus price target of $167.14.

Chevron Stock Performance

Shares of NYSE:CVX opened at $162.36 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The company has a market cap of $326.91 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 10.19 and a beta of 0.70. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a 50-day moving average price of $152.48 and a 200-day moving average price of $153.68.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The business had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. During the same quarter in the prior year, the company posted $2.48 EPS. Chevron’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were paid a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.2%. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 320,700 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $162.99, for a total value of $52,270,893.00. Following the completion of the transaction, the chief executive officer owned 14,450 shares in the company, valued at $2,355,205.50. This trade represents a 95.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Eimear P. Bonner sold 28,334 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $165.05, for a total value of $4,676,526.70. Following the completion of the transaction, the chief financial officer owned 4,366 shares of the company’s stock, valued at approximately $720,608.30. This trade represents a 86.65% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 631,990 shares of company stock worth $99,716,808. 0.20% of the stock is currently owned by insiders.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.