Chevron Co. (NYSE:CVX) Shares Acquired by Leelyn Smith LLC

Leelyn Smith LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 6.4% in the third quarter, HoldingsChannel reports. The firm owned 16,229 shares of the oil and gas company’s stock after purchasing an additional 979 shares during the quarter. Leelyn Smith LLC’s holdings in Chevron were worth $2,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in CVX. Nwam LLC bought a new position in shares of Chevron during the third quarter worth about $3,209,000. Meridian Wealth Management LLC acquired a new position in Chevron during the 3rd quarter valued at about $11,052,000. Studio Investment Management LLC grew its position in Chevron by 0.9% in the 3rd quarter. Studio Investment Management LLC now owns 20,486 shares of the oil and gas company’s stock worth $3,017,000 after purchasing an additional 184 shares during the last quarter. Covenant Asset Management LLC increased its stake in shares of Chevron by 0.7% in the third quarter. Covenant Asset Management LLC now owns 11,115 shares of the oil and gas company’s stock valued at $1,637,000 after purchasing an additional 76 shares during the period. Finally, Allen Capital Group LLC raised its holdings in shares of Chevron by 6.2% during the third quarter. Allen Capital Group LLC now owns 26,713 shares of the oil and gas company’s stock valued at $3,934,000 after buying an additional 1,559 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CVX shares. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Barclays increased their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Wells Fargo & Company dropped their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Finally, UBS Group upped their price target on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Price Performance

CVX opened at $162.36 on Friday. The firm has a market capitalization of $291.78 billion, a P/E ratio of 17.84, a PEG ratio of 3.56 and a beta of 1.09. The stock has a fifty day moving average of $151.58 and a 200-day moving average of $152.69. 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 Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

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

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. Chevron’s dividend payout ratio (DPR) is 71.65%.

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.