Chevron Corporation $CVX Stock Sold by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. decreased its holdings in Chevron Corporation (NYSE:CVX) by 4.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 75,566 shares of the oil and gas company’s stock after selling 3,389 shares during the quarter. Chevron accounts for about 1.9% of Global Wealth Management Investment Advisory Inc.’s holdings, making the stock its 11th biggest position. Global Wealth Management Investment Advisory Inc.’s holdings in Chevron were worth $15,431,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of CVX. 71 West Capital Partners lifted its holdings in Chevron by 14.8% during the 3rd quarter. 71 West Capital Partners now owns 13,348 shares of the oil and gas company’s stock worth $2,726,000 after purchasing an additional 1,718 shares during the last quarter. Idaho Trust Co grew its holdings in Chevron by 3.0% in the 3rd quarter. Idaho Trust Co now owns 2,164 shares of the oil and gas company’s stock valued at $442,000 after buying an additional 64 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc grew its holdings in Chevron by 18.3% in the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 221,389 shares of the oil and gas company’s stock valued at $45,210,000 after buying an additional 34,168 shares in the last quarter. Gryphon Financial Partners LLC grew its holdings in Chevron by 17.6% in the 3rd quarter. Gryphon Financial Partners LLC now owns 24,272 shares of the oil and gas company’s stock valued at $4,957,000 after buying an additional 3,628 shares in the last quarter. Finally, Leuthold Group LLC increased its position in Chevron by 1,627.4% during the 3rd quarter. Leuthold Group LLC now owns 43,099 shares of the oil and gas company’s stock worth $8,801,000 after buying an additional 40,604 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Freedom Broker raised Chevron from a “sell” rating to a “hold” rating and set a $218.00 target price for the company in a report on Thursday, November 5th. Weiss Ratings cut shares of Chevron from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, November 2nd. BMO Capital Markets upped their price target on shares of Chevron from $210.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Morgan Stanley raised their price target on shares of Chevron from $226.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $241.00 price target on shares of Chevron in a research report on Tuesday, October 20th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $221.88.

Chevron Trading Down 0.8%

Shares of CVX stock opened at $210.91 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The stock has a market cap of $416.71 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 0.51 and a beta of 0.47. The stock has a 50 day simple moving average of $215.09 and a 200 day simple moving average of $194.63. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $236.48.

Chevron (NYSE:CVX) last issued its quarterly 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. Chevron had a return on equity of 14.64% and a net margin of 11.56%. The business had revenue of $65.24 billion for the quarter, compared to the consensus estimate of $61.82 billion. During the same quarter in the prior year, the business posted $1.85 earnings per share. The firm’s quarterly revenue was up 36.3% compared to the same quarter last year. On average, research analysts predict that Chevron Corporation will post 18.56 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Wednesday, November 18th. Chevron’s dividend payout ratio is presently 52.08%.

Insider Activity

In other news, CEO Michael Wirth sold 317,100 shares of the company’s stock in a transaction 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 sale, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Walz sold 16,800 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the sale, the insider directly owned 14 shares in the company, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 379,470 shares of company stock worth $77,216,415. 0.56% of the stock is currently owned by company insiders.

Chevron Company Profile

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.