Chevron Co. (NYSE:CVX) Shares Purchased by Garner Asset Management Corp

Garner Asset Management Corp increased its position in Chevron Co. (NYSE:CVX) by 19.9% in the third quarter, HoldingsChannel.com reports. The fund owned 23,984 shares of the oil and gas company’s stock after buying an additional 3,987 shares during the period. Chevron comprises approximately 1.6% of Garner Asset Management Corp’s investment portfolio, making the stock its 13th biggest holding. Garner Asset Management Corp’s holdings in Chevron were worth $3,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Montz Harcus Wealth Management LLC grew its stake in Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after buying an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC grew its stake in Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after buying an additional 64 shares during the last quarter. Tacita Capital Inc boosted its holdings in Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 65 shares during the period. Cyndeo Wealth Partners LLC boosted its holdings in Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after purchasing an additional 67 shares during the period. Finally, S.A. Mason LLC boosted its holdings in Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.5 %

NYSE CVX opened at $162.36 on Friday. The firm has a market cap of $291.78 billion, a P/E ratio of 17.84, a P/E/G ratio of 3.56 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. The stock’s 50-day moving average is $151.58 and its 200-day moving average is $152.62. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the company earned $3.05 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction 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. The trade was a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Royal Bank of Canada increased their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Scotiabank reduced their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Barclays raised their price objective on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. UBS Group raised their price objective on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Truist Financial raised their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

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.