Grimes & Company Inc. Has $9 Million Holdings in Chevron Co. (NYSE:CVX)

Grimes & Company Inc. increased its position in shares of Chevron Co. (NYSE:CVX) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,104 shares of the oil and gas company’s stock after buying an additional 2,511 shares during the period. Grimes & Company Inc.’s holdings in Chevron were worth $8,995,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in Chevron during the third quarter worth about $29,000. Rational Advisors LLC acquired a new stake in shares of Chevron in the third quarter valued at approximately $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron during the 3rd quarter worth approximately $31,000. Finally, Livelsberger Financial Advisory bought a new stake in Chevron in the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Stock Down 0.3 %

NYSE CVX opened at $155.62 on Monday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The business has a fifty day moving average price of $153.81 and a two-hundred day moving average price of $151.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $279.66 billion, a PE ratio of 17.10, a PEG ratio of 1.37 and a beta of 1.12.

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 the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted $3.05 earnings per share. Equities analysts expect that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.19%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CVX shares. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Barclays upped their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Royal Bank of Canada upped their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their target price on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $175.27.

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.