53,044 Shares in Chevron Co. (NYSE:CVX) Bought by FORA Capital LLC

FORA Capital LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX) in the third quarter, HoldingsChannel.com reports. The firm purchased 53,044 shares of the oil and gas company’s stock, valued at approximately $7,812,000. Chevron comprises 0.9% of FORA Capital LLC’s holdings, making the stock its 22nd biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Montz Harcus Wealth Management LLC increased its position in Chevron by 2.2% during the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after purchasing an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC grew its stake in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after buying an additional 64 shares during the period. Tacita Capital Inc increased its position in shares of Chevron by 16.7% in the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC raised its stake in shares of Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after acquiring an additional 67 shares during the period. Finally, S.A. Mason LLC lifted its holdings in shares of Chevron by 0.7% during the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after acquiring an additional 67 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on CVX shares. Barclays raised their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $145.00 to $185.00 in a research report on Tuesday. Mizuho lowered their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Finally, Bank of America initiated coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $175.56.

Chevron Stock Up 0.9 %

Shares of CVX stock traded up $1.41 during trading hours on Wednesday, hitting $163.94. 1,157,873 shares of the company were exchanged, compared to its average volume of 7,631,230. The stock has a market capitalization of $294.61 billion, a price-to-earnings ratio of 17.86, a P/E/G ratio of 3.54 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The business’s 50-day simple moving average is $152.32 and its two-hundred day simple moving average is $152.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the business posted $3.05 EPS. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. Sell-side analysts predict that Chevron Co. will post 10.53 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 3.98%. Chevron’s payout ratio is 71.65%.

Chevron Company 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.