City Holding Co. Acquires 586 Shares of Chevron Co. (NYSE:CVX)

City Holding Co. grew its holdings in shares of Chevron Co. (NYSE:CVX) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,058 shares of the oil and gas company’s stock after buying an additional 586 shares during the quarter. City Holding Co.’s holdings in Chevron were worth $3,658,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sofos Investments Inc. lifted its position in Chevron by 10,500.0% during the 2nd quarter. Sofos Investments Inc. now owns 106 shares of the oil and gas company’s stock worth $116,000 after buying an additional 105 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Chevron in the 2nd quarter valued at about $30,000. Horan Securities Inc. raised its holdings in shares of Chevron by 196.0% in the 2nd quarter. Horan Securities Inc. now owns 296 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 196 shares during the period. Newton One Investments LLC bought a new stake in shares of Chevron in the 2nd quarter valued at about $34,000. Finally, Capital Directions Investment Advisors LLC raised its holdings in shares of Chevron by 66.7% in the 2nd quarter. Capital Directions Investment Advisors LLC now owns 375 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 150 shares during the period. 65.55% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:CVX opened at $114.51 on Friday. The firm has a 50 day simple moving average of $109.96 and a 200 day simple moving average of $105.01. The company has a market cap of $220.74 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 2.54 and a beta of 1.30. Chevron Co. has a one year low of $83.53 and a one year high of $118.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.28 and a quick ratio of 1.03.

Chevron (NYSE:CVX) last released its quarterly earnings results on Thursday, October 28th. The oil and gas company reported $2.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.21 by $0.75. The firm had revenue of $44.71 billion during the quarter, compared to the consensus estimate of $40.89 billion. Chevron had a net margin of 7.10% and a return on equity of 7.95%. The company’s revenue for the quarter was up 82.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 earnings per share. As a group, analysts expect that Chevron Co. will post 8.35 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Stockholders of record on Thursday, November 18th will be paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Wednesday, November 17th. Chevron’s payout ratio is currently 103.47%.

A number of brokerages have recently issued reports on CVX. Morgan Stanley upped their target price on shares of Chevron from $149.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, November 19th. Truist upped their target price on shares of Chevron from $145.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, October 7th. Royal Bank of Canada raised shares of Chevron from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $130.00 to $145.00 in a report on Wednesday. Societe Generale initiated coverage on shares of Chevron in a research note on Friday, October 22nd. They issued a “buy” rating and a $130.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on shares of Chevron from $109.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, November 1st. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Buy” and an average price target of $121.23.

In other news, CEO Michael K. Wirth sold 26,250 shares of the stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $118.01, for a total transaction of $3,097,762.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Colin E. Parfitt sold 15,000 shares of the stock in a transaction on Friday, October 29th. The stock was sold at an average price of $115.01, for a total transaction of $1,725,150.00. The disclosure for this sale can be found here. Insiders have sold 325,651 shares of company stock valued at $37,293,688 in the last ninety days. Insiders own 0.28% of the company’s stock.

Chevron Company Profile

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

See Also: Arbitrage

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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