Chevron Corporation $CVX Shares Bought by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC increased its holdings in Chevron Corporation (NYSE:CVX) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 124,238 shares of the oil and gas company’s stock after buying an additional 6,005 shares during the quarter. Chevron comprises approximately 1.2% of Woodmont Investment Counsel LLC’s investment portfolio, making the stock its 21st largest holding. Woodmont Investment Counsel LLC’s holdings in Chevron were worth $17,790,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sovereign Financial Group Inc. boosted its position in Chevron by 7.7% in the 1st quarter. Sovereign Financial Group Inc. now owns 2,895 shares of the oil and gas company’s stock worth $484,000 after purchasing an additional 207 shares in the last quarter. Congress Asset Management Co. boosted its position in Chevron by 0.8% in the 1st quarter. Congress Asset Management Co. now owns 83,034 shares of the oil and gas company’s stock worth $13,891,000 after purchasing an additional 626 shares in the last quarter. Princeton Global Asset Management LLC boosted its position in Chevron by 43.7% in the 1st quarter. Princeton Global Asset Management LLC now owns 1,602 shares of the oil and gas company’s stock worth $268,000 after purchasing an additional 487 shares in the last quarter. Perennial Advisors LLC purchased a new stake in Chevron in the 1st quarter worth approximately $867,000. Finally, Wedmont Private Capital boosted its position in Chevron by 9.2% in the 1st quarter. Wedmont Private Capital now owns 15,023 shares of the oil and gas company’s stock worth $2,513,000 after purchasing an additional 1,261 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 375,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Melius Research assumed coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Morgan Stanley began coverage on Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price on the stock. UBS Group increased their target price on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Scotiabank reiterated a “sector perform” rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Finally, Mizuho decreased their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $165.05.

Chevron Stock Up 0.1%

NYSE CVX opened at $153.59 on Monday. The business has a fifty day moving average price of $156.23 and a 200 day moving average price of $148.87. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market cap of $265.40 billion, a P/E ratio of 19.77, a P/E/G ratio of 1.99 and a beta of 0.84.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the prior year, the company earned $2.55 EPS. The firm’s revenue was down 12.4% compared to the same quarter last year. Research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is currently 88.03%.

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.