Chevron Corporation $CVX Holdings Boosted by Parallel Advisors LLC

Parallel Advisors LLC boosted its holdings in Chevron Corporation (NYSE:CVX) by 8.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 120,882 shares of the oil and gas company’s stock after purchasing an additional 9,090 shares during the quarter. Parallel Advisors LLC’s holdings in Chevron were worth $24,685,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. Guidance Capital Inc. raised its stake in shares of Chevron by 2.4% in the third quarter. Guidance Capital Inc. now owns 2,118 shares of the oil and gas company’s stock worth $433,000 after purchasing an additional 50 shares during the last quarter. Flagship Wealth Advisors LLC boosted its position in shares of Chevron by 1.2% during the third quarter. Flagship Wealth Advisors LLC now owns 7,494 shares of the oil and gas company’s stock valued at $1,530,000 after buying an additional 90 shares during the last quarter. Tenzing Financial LLC purchased a new position in shares of Chevron during the third quarter valued at approximately $201,000. Prudent Man Investment Management Inc. boosted its position in shares of Chevron by 74.0% during the third quarter. Prudent Man Investment Management Inc. now owns 649 shares of the oil and gas company’s stock valued at $133,000 after buying an additional 276 shares during the last quarter. Finally, Plancorp LLC grew its holdings in Chevron by 51.7% during the third quarter. Plancorp LLC now owns 21,185 shares of the oil and gas company’s stock worth $4,326,000 after buying an additional 7,216 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In related news, insider R. Pate sold 40,700 shares of the stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the transaction, the insider owned 8,791 shares of the company’s stock, valued at approximately $1,992,480.15. This trade represents a 82.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Wirth sold 317,100 shares of Chevron stock in a transaction on Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares in the company, valued at approximately $5,273,701.68. The trade was a 92.34% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 379,470 shares of company stock valued at $77,216,415. Corporate insiders own 0.56% of the company’s stock.

Chevron Price Performance

CVX stock traded down $0.27 during mid-day trading on Friday, hitting $212.66. 8,080,978 shares of the stock were exchanged, compared to its average volume of 7,613,494. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The business has a fifty day moving average price of $214.91 and a 200 day moving average price of $194.40. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $236.48. The stock has a market capitalization of $420.17 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 0.54 and a beta of 0.47.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.87 by $0.41. The firm had revenue of $65.24 billion for the quarter, compared to analyst estimates of $61.82 billion. Chevron had a return on equity of 14.64% and a net margin of 11.56%. The company’s revenue was up 36.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.85 EPS. On average, sell-side analysts anticipate that Chevron Corporation will post 18.56 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, November 18th. Chevron’s payout ratio is presently 52.08%.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was upgraded by Freedom Broker from “sell” to “hold,” with a $218 price target. The change signals less bearishness, though the target implies only modest upside from the cited share price. Freedom Broker rating
• Positive Sentiment: Natural-gas production topped 9 billion cubic feet per day in the third quarter, supported by operations in Australia and the Eastern Mediterranean. Record output could strengthen Chevron’s position in the liquefied natural gas market, despite operational disruptions. Zacks article on gas production
• Positive Sentiment: Recent coverage points to record cash flow and a run of earnings beats as reasons to consider CVX for the long term. Chevron’s latest reported quarter also exceeded analyst expectations for earnings and revenue, supporting the fundamental case. 247WallSt analysis
• Neutral Sentiment: An executive reported selling 24,439 shares in an option exercise-and-sale transaction. The report alone does not establish a change in the company’s outlook. Insider transaction report
• Negative Sentiment: Coverage says a post-election political shift sent oil prices lower, dragging energy stocks, including Chevron. A separate analyst downgrade also contributed to reported share-price pressure, highlighting sensitivity to oil-market expectations and cautious ratings. Report on analyst downgrade

Wall Street Analyst Weigh In

A number of research firms recently commented on CVX. Morgan Stanley increased their price target on Chevron from $226.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. Argus upped their price objective on Chevron from $206.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Freedom Broker raised Chevron from a “sell” rating to a “hold” rating and set a $218.00 target price for the company in a research report on Thursday. BMO Capital Markets boosted their target price on shares of Chevron from $210.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, September 3rd. Finally, Bank of America boosted their price objective on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $221.88.

About Chevron

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.