Chevron Corporation $CVX Shares Acquired by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 106.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 11,260 shares of the oil and gas company’s stock after acquiring an additional 5,797 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Chevron were worth $1,612,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CVX. Elequin Capital LP acquired a new position in shares of Chevron in the 1st quarter valued at $31,000. Quaker Wealth Management LLC lifted its position in Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 439 shares during the last quarter. Vermillion & White Wealth Management Group LLC boosted its stake in Chevron by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 118 shares in the last quarter. IMG Wealth Management Inc. grew its holdings in shares of Chevron by 52.3% during the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares during the last quarter. Finally, GFG Capital LLC acquired a new stake in shares of Chevron during the second quarter worth about $42,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John B. Hess sold 275,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the transaction, the director directly owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CVX shares. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Melius Research assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. HSBC set a $169.00 target price on shares of Chevron and gave the company a “buy” rating in a report on Monday, December 1st. Mizuho increased their price target on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Morgan Stanley lifted their price objective on shares of Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $166.00.

Chevron Stock Performance

Shares of CVX opened at $149.95 on Friday. The stock has a market capitalization of $301.93 billion, a P/E ratio of 21.09, a P/E/G ratio of 8.91 and a beta of 0.68. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company’s fifty day moving average is $152.74 and its two-hundred day moving average is $152.08.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The company had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter last year, the business earned $2.48 EPS. The business’s revenue was down 1.9% on a year-over-year basis. On average, sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were given a dividend of $1.71 per share. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.6%. Chevron’s payout ratio is presently 96.20%.

About Chevron

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.