Canopy Partners LLC Has $938,000 Stock Position in Chevron Co. (NYSE:CVX)

Canopy Partners LLC cut its holdings in Chevron Co. (NYSE:CVX) by 6.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,368 shares of the oil and gas company’s stock after selling 421 shares during the period. Canopy Partners LLC’s holdings in Chevron were worth $938,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. China Universal Asset Management Co. Ltd. bought a new stake in shares of Chevron during the 1st quarter valued at $566,000. Gamco Investors INC. ET AL raised its stake in Chevron by 6.0% in the first quarter. Gamco Investors INC. ET AL now owns 27,377 shares of the oil and gas company’s stock valued at $4,318,000 after purchasing an additional 1,552 shares in the last quarter. Truvestments Capital LLC lifted its position in Chevron by 34.4% during the first quarter. Truvestments Capital LLC now owns 926 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 237 shares during the period. 1832 Asset Management L.P. grew its stake in Chevron by 27.2% during the first quarter. 1832 Asset Management L.P. now owns 71,948 shares of the oil and gas company’s stock worth $11,349,000 after buying an additional 15,383 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC increased its holdings in Chevron by 25.9% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 4,300 shares of the oil and gas company’s stock valued at $678,000 after buying an additional 885 shares during the period. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

Chevron Trading Up 0.5 %

NYSE CVX opened at $162.36 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The business has a 50 day moving average price of $151.58 and a 200-day moving average price of $152.69. The company has a market cap of $291.78 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 3.56 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $3.05 earnings per share. As a group, equities analysts expect that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is 71.65%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CVX shares. UBS Group increased their price target on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Company reduced their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Barclays increased their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada upped their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.