MidWestOne Financial Group Inc. Sells 92 Shares of Chevron Co. (NYSE:CVX)

MidWestOne Financial Group Inc. decreased its stake in Chevron Co. (NYSE:CVX) by 0.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 23,483 shares of the oil and gas company’s stock after selling 92 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Chevron were worth $3,458,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Rational Advisors LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at approximately $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron in the 3rd quarter valued at about $31,000. Finally, Anfield Capital Management LLC lifted its stake in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 1.2 %

Shares of Chevron stock opened at $157.13 on Tuesday. The firm’s 50-day moving average price is $154.97 and its two-hundred day moving average price is $152.42. The company has a market capitalization of $282.37 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 3.43 and a beta of 1.10. The company has a quick ratio of 0.80, a current ratio of 1.07 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 announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate 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 period in the previous year, the business earned $3.05 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. On average, analysts forecast that Chevron Co. will post 10.53 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared 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. This represents a $6.52 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Analysts Set New Price Targets

Several analysts have issued reports on CVX shares. Mizuho dropped their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Wells Fargo & Company increased their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $177.13.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

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.