Canal Insurance CO decreased its holdings in Chevron Co. (NYSE:CVX – Get Rating) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 109,240 shares of the oil and gas company’s stock after selling 200 shares during the period. Chevron makes up approximately 4.7% of Canal Insurance CO’s investment portfolio, making the stock its 4th largest position. Canal Insurance CO’s holdings in Chevron were worth $15,695,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Worth Asset Management LLC purchased a new stake in shares of Chevron in the 1st quarter valued at approximately $36,000. Win Advisors Inc. boosted its position in shares of Chevron by 61.2% during the 2nd quarter. Win Advisors Inc. now owns 316 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 120 shares during the period. Joseph P. Lucia & Associates LLC boosted its position in shares of Chevron by 80.6% during the 2nd quarter. Joseph P. Lucia & Associates LLC now owns 336 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 150 shares during the period. Foster Dykema Cabot & Co. Inc. MA purchased a new position in shares of Chevron during the 2nd quarter worth approximately $69,000. Finally, Goodman Advisory Group LLC purchased a new position in shares of Chevron during the 2nd quarter worth approximately $72,000. Institutional investors and hedge funds own 69.37% of the company’s stock.
Analyst Upgrades and Downgrades
CVX has been the subject of a number of research analyst reports. Piper Sandler lowered their price objective on shares of Chevron from $206.00 to $199.00 and set an “overweight” rating for the company in a research report on Monday, December 19th. Morgan Stanley increased their target price on shares of Chevron from $193.00 to $196.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 19th. StockNews.com initiated coverage on shares of Chevron in a report on Wednesday, October 12th. They set a “hold” rating on the stock. HSBC increased their target price on shares of Chevron to $187.00 in a report on Friday, December 2nd. Finally, Bank of America lowered shares of Chevron from a “buy” rating to a “neutral” rating and increased their target price for the stock from $190.00 to $191.00 in a report on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $185.15.
Chevron Trading Up 0.8 %
Shares of Chevron stock opened at $176.56 on Monday. Chevron Co. has a 1 year low of $122.84 and a 1 year high of $189.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.15 and a current ratio of 1.40. The company has a market capitalization of $341.40 billion, a P/E ratio of 10.04, a PEG ratio of 0.72 and a beta of 1.18. The company’s fifty day moving average is $178.58 and its two-hundred day moving average is $163.20.
Chevron (NYSE:CVX – Get Rating) last issued its quarterly earnings data on Friday, October 28th. The oil and gas company reported $5.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.02 by $0.54. Chevron had a net margin of 14.36% and a return on equity of 22.36%. The company had revenue of $66.64 billion for the quarter, compared to the consensus estimate of $61.44 billion. During the same period last year, the firm posted $2.96 EPS. Chevron’s revenue for the quarter was up 49.1% on a year-over-year basis. Analysts forecast that Chevron Co. will post 19.13 earnings per share for the current year.
Chevron Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Friday, November 18th were given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.22%. The ex-dividend date was Thursday, November 17th. Chevron’s payout ratio is currently 32.31%.
Insiders Place Their Bets
In other Chevron news, CEO Michael K. Wirth sold 55,380 shares of the firm’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $185.09, for a total transaction of $10,250,284.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP R. Hewitt Pate sold 32,391 shares of Chevron stock in a transaction dated 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 available at this hyperlink. Also, CEO Michael K. Wirth sold 55,380 shares of Chevron stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $185.09, for a total transaction of $10,250,284.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,563 shares of company stock valued at $53,186,421. Insiders own 0.32% of the company’s stock.
Chevron Company Profile
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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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