Morse Asset Management Inc Has $3.52 Million Position in Chevron Co. (NYSE:CVX)

Morse Asset Management Inc lessened its position in Chevron Co. (NYSE:CVX) by 7.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,897 shares of the oil and gas company’s stock after selling 2,050 shares during the quarter. Morse Asset Management Inc’s holdings in Chevron were worth $3,519,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of CVX. Montz Harcus Wealth Management LLC increased its position in Chevron by 2.2% during the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after buying an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC raised 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 worth $1,485,000 after purchasing an additional 64 shares in 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 grew its position in shares of Chevron by 0.3% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after purchasing an additional 67 shares in the last quarter. Finally, S.A. Mason LLC raised its position in shares of Chevron by 0.7% in the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after buying an additional 67 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Barclays raised their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. UBS Group upped their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.63.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s 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 transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

Chevron Stock Down 0.2 %

Shares of NYSE:CVX opened at $161.90 on Wednesday. The business has a fifty day simple moving average of $153.94 and a 200 day simple moving average of $152.46. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market cap of $290.95 billion, a P/E ratio of 17.79, a P/E/G ratio of 3.58 and a beta of 1.10. 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 (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The company 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%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.05 earnings per share. Analysts predict that Chevron Co. will post 10.53 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.03%. Chevron’s payout ratio is 71.65%.

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.