High Falls Advisors Inc lowered its position in Chevron Co. (NYSE:CVX) by 12.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,408 shares of the oil and gas company’s stock after selling 492 shares during the period. High Falls Advisors Inc’s holdings in Chevron were worth $417,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Canton Hathaway LLC bought a new stake in shares of Chevron in the third quarter worth $141,000. Signature Estate & Investment Advisors LLC bought a new stake in shares of Chevron in the third quarter worth $144,000. O Brien Wealth Partners LLC grew its holdings in shares of Chevron by 4,389.3% in the third quarter. O Brien Wealth Partners LLC now owns 1,257 shares of the oil and gas company’s stock worth $154,000 after acquiring an additional 1,229 shares during the period. Atlantic Trust LLC grew its holdings in shares of Chevron by 54.7% in the second quarter. Atlantic Trust LLC now owns 1,470 shares of the oil and gas company’s stock worth $186,000 after acquiring an additional 520 shares during the period. Finally, Almanack Investment Partners LLC. bought a new stake in shares of Chevron in the third quarter worth $188,000. 64.75% of the stock is owned by institutional investors.
Several analysts have issued reports on the company. Credit Suisse Group reissued a “buy” rating and set a $130.00 price target on shares of Chevron in a report on Wednesday, January 23rd. Tudor Pickering assumed coverage on Chevron in a report on Friday, March 1st. They set a “buy” rating and a $133.00 price target for the company. UBS Group raised Chevron from a “neutral” rating to a “buy” rating and set a $112.95 price target for the company in a report on Friday, January 18th. Zacks Investment Research lowered Chevron from a “hold” rating to a “strong sell” rating in a report on Thursday, January 3rd. Finally, Mizuho reissued a “buy” rating and set a $140.00 price target on shares of Chevron in a report on Wednesday, March 6th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $134.18.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, February 1st. The oil and gas company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. The firm had revenue of $42.35 billion during the quarter, compared to analyst estimates of $41.46 billion. Chevron had a return on equity of 9.78% and a net margin of 8.91%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.64 earnings per share. Equities research analysts predict that Chevron Co. will post 6.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 15th were paid a $1.19 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend was Thursday, February 14th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.82%. Chevron’s dividend payout ratio is 57.70%.
In other news, insider James William Johnson sold 4,750 shares of the company’s stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $112.20, for a total value of $532,950.00. Following the completion of the transaction, the insider now owns 4,750 shares of the company’s stock, valued at $532,950. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jeanette L. Ourada sold 7,200 shares of the company’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $116.50, for a total value of $838,800.00. Following the completion of the transaction, the insider now directly owns 7,200 shares of the company’s stock, valued at approximately $838,800. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.
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Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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