Chevron Co. (NYSE:CVX) Shares Acquired by Verity & Verity LLC

Verity & Verity LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 3.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 177,185 shares of the oil and gas company’s stock after acquiring an additional 5,426 shares during the period. Chevron makes up about 2.6% of Verity & Verity LLC’s portfolio, making the stock its 9th largest holding. Verity & Verity LLC’s holdings in Chevron were worth $26,094,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Marietta Wealth Management LLC raised its stake in shares of Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after buying an additional 3,965 shares during the period. Leo Wealth LLC raised its position in Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after acquiring an additional 1,354 shares during the period. RPG Investment Advisory LLC lifted its holdings in Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after purchasing an additional 3,933 shares in the last quarter. Garner Asset Management Corp grew its position in shares of Chevron by 14.5% in the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after purchasing an additional 2,530 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. grew its position in shares of Chevron by 3.2% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company’s stock valued at $16,930,000 after purchasing an additional 3,561 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Chevron stock opened at $160.78 on Tuesday. The firm has a 50 day simple moving average of $149.80 and a 200-day simple moving average of $152.57. The stock has a market cap of $288.94 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter last year, the firm earned $3.05 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, analysts expect that Chevron Co. will post 10.55 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.06%. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Scotiabank decreased their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Truist Financial lifted their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Mizuho reduced their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Barclays lifted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron 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.