Chevron Corporation $CVX Shares Bought by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC increased its stake in Chevron Corporation (NYSE:CVX) by 212.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,609 shares of the oil and gas company’s stock after acquiring an additional 18,783 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Chevron were worth $5,638,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CVX. Main Street Group LTD acquired a new stake in shares of Chevron in the first quarter valued at about $28,000. Kilter Group LLC purchased a new stake in shares of Chevron during the second quarter worth about $28,000. Principia Wealth Advisory LLC increased its stake in shares of Chevron by 49.6% during the second quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 60 shares in the last quarter. Strategic Wealth Advisors LLC acquired a new position in shares of Chevron during the 2nd quarter worth about $33,000. Finally, Burk Holdings LLC acquired a new position in shares of Chevron during the 2nd quarter worth about $42,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 0.0%

Shares of CVX opened at $212.66 on Monday. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $236.48. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average is $214.91 and its two-hundred day moving average is $194.40. The stock has a market cap of $420.17 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 0.50 and a beta of 0.47.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.87 by $0.41. The business had revenue of $65.24 billion during the quarter, compared to analyst estimates of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.49%. The company’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.85 earnings per share. Research analysts forecast that Chevron Corporation will post 18.56 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be given a dividend of $1.78 per share. The ex-dividend date is Wednesday, November 18th. This represents a $7.12 dividend on an annualized basis and a yield of 3.3%. Chevron’s payout ratio is presently 52.08%.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was upgraded by Freedom Broker from “sell” to “hold,” with a $218 price target. The change signals less bearishness, though the target implies only modest upside from the cited share price. Freedom Broker rating
• Positive Sentiment: Natural-gas production topped 9 billion cubic feet per day in the third quarter, supported by operations in Australia and the Eastern Mediterranean. Record output could strengthen Chevron’s position in the liquefied natural gas market, despite operational disruptions. Zacks article on gas production
• Positive Sentiment: Recent coverage points to record cash flow and a run of earnings beats as reasons to consider CVX for the long term. Chevron’s latest reported quarter also exceeded analyst expectations for earnings and revenue, supporting the fundamental case. 247WallSt analysis
• Neutral Sentiment: An executive reported selling 24,439 shares in an option exercise-and-sale transaction. The report alone does not establish a change in the company’s outlook. Insider transaction report
• Negative Sentiment: Coverage says a post-election political shift sent oil prices lower, dragging energy stocks, including Chevron. A separate analyst downgrade also contributed to reported share-price pressure, highlighting sensitivity to oil-market expectations and cautious ratings. Report on analyst downgrade

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research reports. Zacks Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Royal Bank Of Canada lifted their price objective on Chevron from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, September 24th. BNP Paribas Exane cut their price objective on Chevron from $230.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. The Goldman Sachs Group reissued a “buy” rating and set a $241.00 target price on shares of Chevron in a report on Tuesday, October 20th. Finally, BMO Capital Markets increased their target price on Chevron from $210.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $221.88.

Insider Buying and Selling

In other Chevron news, insider Andrew Walz sold 16,800 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the sale, the insider owned 14 shares in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael K. Wirth sold 317,100 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares in the company, valued at $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 379,470 shares of company stock worth $77,216,415. 0.56% of the stock is owned by insiders.

About Chevron

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.