Wellington Shields Capital Management LLC Trims Position in Chevron Co. (NYSE:CVX)

Wellington Shields Capital Management LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 41.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 19,438 shares of the oil and gas company’s stock after selling 13,915 shares during the period. Wellington Shields Capital Management LLC’s holdings in Chevron were worth $1,972,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CVX. Vanguard Group Inc. increased its position in Chevron by 3.5% during the second quarter. Vanguard Group Inc. now owns 161,501,973 shares of the oil and gas company’s stock worth $16,915,716,000 after purchasing an additional 5,427,422 shares during the last quarter. State Street Corp increased its position in Chevron by 1.3% during the second quarter. State Street Corp now owns 139,640,367 shares of the oil and gas company’s stock worth $14,625,932,000 after purchasing an additional 1,844,030 shares during the last quarter. BlackRock Inc. increased its position in Chevron by 3.3% during the second quarter. BlackRock Inc. now owns 136,355,706 shares of the oil and gas company’s stock worth $14,281,898,000 after purchasing an additional 4,339,477 shares during the last quarter. Geode Capital Management LLC increased its position in Chevron by 1.8% during the second quarter. Geode Capital Management LLC now owns 30,544,480 shares of the oil and gas company’s stock worth $3,190,395,000 after purchasing an additional 537,762 shares during the last quarter. Finally, Morgan Stanley increased its position in Chevron by 6.9% during the second quarter. Morgan Stanley now owns 23,302,417 shares of the oil and gas company’s stock worth $2,440,693,000 after purchasing an additional 1,513,296 shares during the last quarter. 64.98% of the stock is currently owned by institutional investors and hedge funds.

NYSE CVX traded up $0.29 during trading hours on Thursday, reaching $127.62. 196,408 shares of the company traded hands, compared to its average volume of 10,803,046. Chevron Co. has a 12 month low of $84.57 and a 12 month high of $128.43. The company has a current ratio of 1.28, a quick ratio of 1.03 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $246.01 billion, a PE ratio of 24.58, a PEG ratio of 2.89 and a beta of 1.28. The company has a 50 day moving average of $117.06 and a two-hundred day moving average of $107.65.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Thursday, October 28th. The oil and gas company reported $2.96 EPS for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.75. Chevron had a net margin of 7.10% and a return on equity of 7.95%. The firm had revenue of $44.71 billion for the quarter, compared to the consensus estimate of $40.89 billion. During the same period in the prior year, the firm posted $0.11 EPS. The firm’s revenue was up 82.9% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 8.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 10th. Shareholders of record on Thursday, November 18th were paid a dividend of $1.34 per share. The ex-dividend date was Wednesday, November 17th. This represents a $5.36 dividend on an annualized basis and a yield of 4.20%. Chevron’s dividend payout ratio (DPR) is 103.47%.

In other news, EVP James William Johnson sold 17,000 shares of the firm’s stock in a transaction dated Friday, January 7th. The shares were sold at an average price of $125.28, for a total value of $2,129,760.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Colin E. Parfitt sold 15,000 shares of the firm’s stock in a transaction dated Friday, October 29th. The stock was sold at an average price of $115.01, for a total transaction of $1,725,150.00. The disclosure for this sale can be found here. Insiders have sold a total of 435,801 shares of company stock worth $50,435,077 over the last quarter. 0.29% of the stock is currently owned by insiders.

Several brokerages recently commented on CVX. Wells Fargo & Company raised shares of Chevron from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, January 5th. Tudor Pickering raised shares of Chevron from a “hold” rating to a “buy” rating and set a $114.00 price target for the company in a research report on Tuesday, November 30th. Mizuho reaffirmed a “buy” rating on shares of Chevron in a research report on Wednesday, November 3rd. UBS Group raised shares of Chevron from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Monday, November 15th. Finally, Zacks Investment Research lowered shares of Chevron from a “strong-buy” rating to a “hold” rating and set a $121.00 price objective for the company. in a research report on Monday, December 6th. Eight analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $124.24.

Chevron Profile

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 exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

Further Reading: Bear Market

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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