Phoenix Financial Ltd. Purchases 7,656 Shares of Chevron Corporation $CVX

Phoenix Financial Ltd. boosted its position in Chevron Corporation (NYSE:CVX) by 19.4% in the third quarter, Holdings Channel.com reports. The firm owned 47,160 shares of the oil and gas company’s stock after buying an additional 7,656 shares during the quarter. Phoenix Financial Ltd.’s holdings in Chevron were worth $7,327,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Quaker Wealth Management LLC increased its stake in shares of Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 439 shares in the last quarter. Decker Retirement Planning Inc. purchased a new stake in Chevron in the third quarter worth about $34,000. Vermillion & White Wealth Management Group LLC increased its stake in shares of Chevron by 86.1% during 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 purchasing an additional 118 shares in the last quarter. IMG Wealth Management Inc. increased its stake 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 valued at $38,000 after purchasing an additional 91 shares in the last quarter. Finally, Marquette Asset Management LLC purchased a new position in shares of Chevron during the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

NYSE CVX opened at $167.36 on Tuesday. Chevron Corporation has a one year low of $132.04 and a one year high of $169.37. The stock has a 50-day moving average of $154.77 and a 200 day moving average of $154.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. The company has a market capitalization of $336.99 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 11.38 and a beta of 0.70.

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

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were paid a dividend of $1.71 per share. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.1%. Chevron’s payout ratio is currently 96.20%.

Analysts Set New Price Targets

CVX has been the subject of a number of analyst reports. Barclays raised their price objective on Chevron from $158.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 21st. Citigroup reduced their price target on Chevron from $185.00 to $179.00 and set a “buy” rating for the company in a report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research report on Wednesday, January 21st. Scotiabank reissued a “sector perform” rating and set a $168.00 price objective on shares of Chevron in a research report on Friday, January 16th. Finally, Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $170.00.

Insider Transactions at Chevron

In other Chevron news, CFO Eimear P. Bonner sold 28,334 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $165.05, for a total value of $4,676,526.70. Following the transaction, the chief financial officer owned 4,366 shares of the company’s stock, valued at approximately $720,608.30. This represents a 86.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alana K. Knowles sold 7,956 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $165.05, for a total value of $1,313,137.80. Following the sale, the insider owned 1,207 shares of the company’s stock, valued at approximately $199,215.35. This represents a 86.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 635,190 shares of company stock valued at $100,254,408 over the last 90 days. 0.20% of the stock is owned by corporate insiders.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.