Janney Montgomery Scott LLC Acquires 19,502 Shares of Chevron Co. (NYSE:CVX)

Janney Montgomery Scott LLC increased its holdings in Chevron Co. (NYSE:CVX) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,203,001 shares of the oil and gas company’s stock after purchasing an additional 19,502 shares during the period. Janney Montgomery Scott LLC owned approximately 0.07% of Chevron worth $174,243,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CVX. Rational Advisors LLC bought a new stake in shares of Chevron during the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron during the third quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new position in Chevron during the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron in the third quarter valued at approximately $31,000. Finally, Krane Funds Advisors LLC acquired a new stake in shares of Chevron in the third quarter worth $47,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on CVX. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Scotiabank dropped their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays lifted their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada increased their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report 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 company’s stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Chevron Price Performance

Shares of Chevron stock opened at $155.99 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market cap of $280.32 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 1.39 and a beta of 1.12. The firm’s 50-day simple moving average is $154.05 and its 200-day simple moving average is $151.11.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 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. The company’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, research analysts expect that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.18%. Chevron’s dividend payout ratio is currently 71.65%.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

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.