Cypress Capital Management LLC Acquires 293 Shares of Chevron Co. (NYSE:CVX)

Cypress Capital Management LLC lifted its holdings in Chevron Co. (NYSE:CVXGet Rating) by 0.6% during the third quarter, HoldingsChannel.com reports. The firm owned 46,934 shares of the oil and gas company’s stock after purchasing an additional 293 shares during the period. Chevron accounts for 1.3% of Cypress Capital Management LLC’s portfolio, making the stock its 25th biggest position. Cypress Capital Management LLC’s holdings in Chevron were worth $6,743,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Klingman & Associates LLC boosted its holdings in Chevron by 1.6% in the 3rd quarter. Klingman & Associates LLC now owns 3,736 shares of the oil and gas company’s stock valued at $537,000 after purchasing an additional 58 shares in the last quarter. SignalPoint Asset Management LLC boosted its holdings in Chevron by 0.4% in the 3rd quarter. SignalPoint Asset Management LLC now owns 14,906 shares of the oil and gas company’s stock valued at $2,141,000 after purchasing an additional 61 shares in the last quarter. Apeiron RIA LLC boosted its holdings in Chevron by 0.8% in the 3rd quarter. Apeiron RIA LLC now owns 7,807 shares of the oil and gas company’s stock valued at $1,224,000 after purchasing an additional 63 shares in the last quarter. Bridgeworth LLC boosted its holdings in Chevron by 1.5% in the 3rd quarter. Bridgeworth LLC now owns 4,236 shares of the oil and gas company’s stock valued at $609,000 after purchasing an additional 64 shares in the last quarter. Finally, Mine & Arao Wealth Creation & Management LLC. boosted its holdings in Chevron by 4.6% in the 3rd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 1,465 shares of the oil and gas company’s stock valued at $211,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 69.37% of the company’s stock.

Chevron Trading Down 0.1 %

Shares of CVX opened at $180.66 on Tuesday. The stock has a fifty day moving average of $177.53 and a two-hundred day moving average of $165.74. 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 $349.33 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 0.81 and a beta of 1.18. Chevron Co. has a fifty-two week low of $122.84 and a fifty-two week high of $189.68.

Chevron (NYSE:CVXGet Rating) last issued its quarterly earnings results on Friday, October 28th. The oil and gas company reported $5.56 earnings per share for the quarter, beating the consensus estimate of $5.02 by $0.54. The company had revenue of $66.64 billion during the quarter, compared to the consensus estimate of $61.44 billion. Chevron had a return on equity of 22.36% and a net margin of 14.36%. Chevron’s revenue was up 49.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.96 EPS. As a group, analysts forecast that Chevron Co. will post 18.91 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Friday, November 18th were issued a $1.42 dividend. The ex-dividend date of this dividend was Thursday, November 17th. This represents a $5.68 annualized dividend and a yield of 3.14%. Chevron’s dividend payout ratio (DPR) is presently 32.31%.

Insider Buying and Selling at Chevron

In other news, VP R. Hewitt Pate sold 32,391 shares of the company’s stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $180.00, for a total transaction of $5,830,380.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP R. Hewitt Pate sold 32,391 shares of the company’s stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $180.00, for a total transaction of $5,830,380.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael K. Wirth sold 34,620 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $185.03, for a total value of $6,405,738.60. The disclosure for this sale can be found here. In the last three months, insiders sold 293,563 shares of company stock worth $53,186,421. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CVX. Cowen lifted their price objective on Chevron from $160.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, October 31st. Raymond James boosted their price target on Chevron from $188.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, October 31st. Jefferies Financial Group assumed coverage on Chevron in a research note on Wednesday, October 19th. They set a “hold” rating on the stock. StockNews.com assumed coverage on Chevron in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Citigroup boosted their price target on Chevron from $155.00 to $180.00 in a research note on Tuesday, November 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and an average target price of $186.67.

About Chevron

(Get Rating)

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

See Also

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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