Taylor Hoffman Wealth Management Boosts Stake in Chevron Co. (NYSE:CVX)

Taylor Hoffman Wealth Management raised its holdings in Chevron Co. (NYSE:CVX) by 28.0% during the third quarter, Holdings Channel.com reports. The firm owned 9,155 shares of the oil and gas company’s stock after purchasing an additional 2,000 shares during the period. Taylor Hoffman Wealth Management’s holdings in Chevron were worth $1,086,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CVX. Murphy Middleton Hinkle & Parker Inc. boosted its position in shares of Chevron by 0.6% in the 2nd quarter. Murphy Middleton Hinkle & Parker Inc. now owns 14,149 shares of the oil and gas company’s stock valued at $1,761,000 after purchasing an additional 84 shares during the period. Arlington Financial Advisors LLC boosted its position in shares of Chevron by 0.4% in the 2nd quarter. Arlington Financial Advisors LLC now owns 20,221 shares of the oil and gas company’s stock valued at $2,516,000 after purchasing an additional 85 shares during the period. Horan Capital Advisors LLC. boosted its position in shares of Chevron by 2.6% in the 3rd quarter. Horan Capital Advisors LLC. now owns 3,311 shares of the oil and gas company’s stock valued at $393,000 after purchasing an additional 85 shares during the period. Landsberg Bennett & Dubbaneh LLC boosted its position in shares of Chevron by 1.7% in the 2nd quarter. Landsberg Bennett & Dubbaneh LLC now owns 5,051 shares of the oil and gas company’s stock valued at $631,000 after purchasing an additional 86 shares during the period. Finally, JNBA Financial Advisors boosted its position in shares of Chevron by 1.6% in the 2nd quarter. JNBA Financial Advisors now owns 5,604 shares of the oil and gas company’s stock valued at $697,000 after purchasing an additional 86 shares during the period. Institutional investors own 65.68% of the company’s stock.

A number of brokerages recently issued reports on CVX. Independent Research set a $127.00 target price on Chevron and gave the company a “neutral” rating in a research report on Thursday, August 29th. Barclays initiated coverage on Chevron in a research note on Monday, August 19th. They set an “overweight” rating and a $145.00 price objective for the company. ValuEngine raised Chevron from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price objective on Chevron from $142.00 to $139.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Cowen reduced their price objective on Chevron from $140.00 to $134.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $135.88.

Shares of CVX traded down $0.96 on Friday, reaching $120.93. The stock had a trading volume of 4,176,056 shares, compared to its average volume of 6,442,372. The firm has a market capitalization of $231.49 billion, a PE ratio of 14.66, a PEG ratio of 3.25 and a beta of 0.99. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average of $117.65 and a 200 day moving average of $119.96. Chevron Co. has a twelve month low of $100.22 and a twelve month high of $127.34.

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Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.11). The firm had revenue of $36.12 billion during the quarter, compared to analyst estimates of $37.69 billion. Chevron had a return on equity of 8.89% and a net margin of 8.70%. The business’s revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.11 EPS. On average, sell-side analysts anticipate that Chevron Co. will post 6.25 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Friday, November 15th. Chevron’s dividend payout ratio is currently 57.70%.

In other Chevron news, insider Joseph C. Geagea sold 8,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $122.50, for a total transaction of $980,000.00. Following the sale, the insider now owns 9,243 shares in the company, valued at approximately $1,132,267.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael K. Wirth sold 33,750 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $125.00, for a total value of $4,218,750.00. Following the sale, the chief executive officer now owns 33,750 shares in the company, valued at approximately $4,218,750. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,750 shares of company stock worth $11,216,850. 0.31% of the stock is owned by insiders.

About Chevron

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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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