West Coast Financial LLC trimmed its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 14.0% during the third quarter, HoldingsChannel reports. The fund owned 3,047 shares of the oil and gas company’s stock after selling 496 shares during the quarter. West Coast Financial LLC’s holdings in Chevron were worth $438,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Worth Asset Management LLC acquired a new position in shares of Chevron during the first quarter worth about $36,000. Win Advisors Inc. increased its stake in shares of Chevron by 61.2% during the second quarter. Win Advisors Inc. now owns 316 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 120 shares during the period. Joseph P. Lucia & Associates LLC increased its stake in shares of Chevron by 80.6% during the second quarter. Joseph P. Lucia & Associates LLC now owns 336 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 150 shares during the period. Foster Dykema Cabot & Co. Inc. MA acquired a new position in Chevron during the second quarter worth about $69,000. Finally, LFA Lugano Financial Advisors SA acquired a new position in Chevron during the second quarter worth about $72,000. 69.37% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, EVP James William Johnson sold 143,466 shares of the firm’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $179.30, for a total value of $25,723,453.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP R. Hewitt Pate sold 32,391 shares of the firm’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $180.00, for a total value of $5,830,380.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP James William Johnson sold 143,466 shares of the firm’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $179.30, for a total transaction of $25,723,453.80. The disclosure for this sale can be found here. Insiders have sold a total of 293,563 shares of company stock valued at $53,186,421 over the last quarter. Company insiders own 0.32% of the company’s stock.
Chevron Stock Performance
Chevron (NYSE:CVX – Get Rating) last posted its quarterly earnings results on Friday, October 28th. The oil and gas company reported $5.56 earnings per share for the quarter, topping analysts’ consensus estimates of $5.02 by $0.54. The company had revenue of $66.64 billion for the quarter, compared to the consensus estimate of $61.44 billion. Chevron had a net margin of 14.36% and a return on equity of 22.36%. Chevron’s revenue was up 49.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.96 earnings per share. Analysts expect that Chevron Co. will post 19.03 EPS for the current year.
Chevron Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Friday, November 18th were paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Thursday, November 17th. Chevron’s dividend payout ratio is currently 32.31%.
Wall Street Analyst Weigh In
Several research analysts have weighed in on CVX shares. Wells Fargo & Company upped their target price on shares of Chevron from $199.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 10th. Raymond James upped their target price on shares of Chevron from $188.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, October 31st. Piper Sandler lowered their target price on shares of Chevron from $206.00 to $199.00 and set an “overweight” rating on the stock in a research report on Monday, December 19th. Morgan Stanley upped their target price on shares of Chevron from $193.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 19th. Finally, BNP Paribas lowered shares of Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 target price on the stock. in a research report on Wednesday, December 14th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $186.67.
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
- Get a free copy of the StockNews.com research report on Chevron (CVX)
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