PYA Waltman Capital LLC Has $2.24 Million Stock Position in Chevron Co. (NYSE:CVX)

PYA Waltman Capital LLC grew its stake in Chevron Co. (NYSE:CVX) by 5.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 15,211 shares of the oil and gas company’s stock after buying an additional 761 shares during the quarter. PYA Waltman Capital LLC’s holdings in Chevron were worth $2,240,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. State Street Corp boosted its stake in Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after purchasing an additional 874,962 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Chevron by 11.5% during the third 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. Fisher Asset Management LLC grew its holdings in shares of Chevron by 3.6% during the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after buying an additional 672,244 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after buying an additional 501,969 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Chevron by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after buying an additional 629,644 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were 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. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

Chevron Stock Down 2.6 %

CVX opened at $155.24 on Monday. The stock’s fifty day simple moving average is $154.77 and its 200 day simple moving average is $152.42. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The stock has a market cap of $278.98 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 3.43 and a beta of 1.10. 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 (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.05 earnings per share. As a group, research analysts expect that Chevron Co. will post 10.53 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVX. Truist Financial upped their price target on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Friday. Royal Bank of Canada raised their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Bank of America assumed coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Scotiabank reduced their price objective 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. Finally, Wells Fargo & Company lowered their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.94.

About Chevron

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.