Darden Wealth Group Inc Has $1.14 Million Stock Position in Chevron Co. (NYSE:CVX)

Darden Wealth Group Inc boosted its stake in shares of Chevron Co. (NYSE:CVX) by 8.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,761 shares of the oil and gas company’s stock after buying an additional 621 shares during the quarter. Darden Wealth Group Inc’s holdings in Chevron were worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in Chevron by 19,404.1% during the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after purchasing an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC raised its holdings in shares of Chevron by 15,750.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after buying an additional 3,876,731 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Chevron by 949.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock worth $562,566,000 after buying an additional 3,456,008 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in Chevron by 55.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after acquiring an additional 3,048,819 shares during the period. 72.42% of the stock is owned by institutional investors.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Royal Bank of Canada lifted their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Wells Fargo & Company reduced their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Barclays lifted their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. UBS Group lifted their price objective on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $174.93.

Chevron Trading Up 0.2 %

CVX opened at $161.58 on Friday. The stock has a market capitalization of $290.37 billion, a P/E ratio of 17.76, a P/E/G ratio of 3.59 and a beta of 1.09. The firm’s fifty day simple moving average is $151.14 and its 200 day simple moving average is $152.69. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the firm earned $3.05 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.04%. Chevron’s payout ratio is presently 71.65%.

Chevron 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.