Chevron Corporation $CVX Shares Acquired by World Investment Advisors

World Investment Advisors lifted its position in Chevron Corporation (NYSE:CVX) by 8.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,617 shares of the oil and gas company’s stock after acquiring an additional 5,244 shares during the period. World Investment Advisors’ holdings in Chevron were worth $10,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Tritonpoint Wealth LLC increased its holdings in shares of Chevron by 2.5% in the third quarter. Tritonpoint Wealth LLC now owns 50,927 shares of the oil and gas company’s stock valued at $7,908,000 after purchasing an additional 1,258 shares during the period. ARS Investment Partners LLC boosted its position in Chevron by 0.7% in the third quarter. ARS Investment Partners LLC now owns 73,789 shares of the oil and gas company’s stock valued at $11,459,000 after buying an additional 485 shares during the last quarter. Brookstone Capital Management increased its holdings in Chevron by 11.8% in the 3rd quarter. Brookstone Capital Management now owns 135,499 shares of the oil and gas company’s stock worth $21,042,000 after buying an additional 14,256 shares during the period. Triangle Securities Wealth Management raised its position in Chevron by 16.1% during the 3rd quarter. Triangle Securities Wealth Management now owns 15,153 shares of the oil and gas company’s stock worth $2,353,000 after buying an additional 2,097 shares during the last quarter. Finally, Level Financial Advisors raised its position in Chevron by 51.6% during the 3rd quarter. Level Financial Advisors now owns 2,391 shares of the oil and gas company’s stock worth $371,000 after buying an additional 814 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, Director John B. Hess sold 275,000 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. The trade was a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVX. Bank of America cut their price objective on shares of Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Piper Sandler cut their price target on Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research report on Monday, November 10th. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. UBS Group restated a “buy” rating on shares of Chevron in a research note on Monday, December 1st. Finally, HSBC set a $169.00 price target on Chevron and gave the company a “buy” rating in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $166.00.

Chevron Stock Down 0.0%

Shares of CVX opened at $150.50 on Friday. The firm has a market cap of $303.03 billion, a P/E ratio of 21.17, a PEG ratio of 9.03 and a beta of 0.68. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock’s 50 day moving average is $152.18 and its two-hundred day moving average is $152.70. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The firm had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same quarter last year, the firm posted $2.48 EPS. The business’s revenue was down 1.9% on a year-over-year basis. Analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were given a $1.71 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron’s dividend payout ratio (DPR) is 96.20%.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.