Chevron Co. (NYSE:CVX) Shares Acquired by Biltmore Family Office LLC

Biltmore Family Office LLC lifted its position in Chevron Co. (NYSE:CVX) by 9.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,062 shares of the oil and gas company’s stock after purchasing an additional 181 shares during the quarter. Biltmore Family Office LLC’s holdings in Chevron were worth $304,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Rational Advisors LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $29,000. Darwin Wealth Management LLC purchased a new position in Chevron during the 3rd quarter worth $30,000. Anfield Capital Management LLC increased its stake in Chevron by 118.0% in the second 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 period. Cyrus J. Lawrence LLC raised its holdings in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Chevron during the third quarter worth about $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CVX shares. Wells Fargo & Company dropped their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Bank of America assumed coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Barclays increased their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, UBS Group raised their target price on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $174.93.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

Chevron Price Performance

Shares of NYSE:CVX opened at $161.58 on Friday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The firm has a market capitalization of $290.37 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 3.59 and a beta of 1.09. The business’s 50 day simple moving average is $151.14 and its 200-day simple moving average is $152.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

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

Chevron Announces Dividend

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