Willis Johnson & Associates Inc. Has $631,000 Position in Chevron Co. (NYSE:CVX)

Willis Johnson & Associates Inc. lessened its stake in Chevron Co. (NYSE:CVX) by 9.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,222 shares of the oil and gas company’s stock after selling 622 shares during the period. Willis Johnson & Associates Inc.’s holdings in Chevron were worth $631,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CVX. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Chevron during the 2nd quarter worth approximately $30,000. Horan Securities Inc. increased its position in shares of Chevron by 196.0% during the second quarter. Horan Securities Inc. now owns 296 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 196 shares during the last quarter. Newton One Investments LLC purchased a new stake in shares of Chevron during the second quarter valued at approximately $34,000. Capital Directions Investment Advisors LLC increased its position in shares of Chevron by 66.7% during the second quarter. Capital Directions Investment Advisors LLC now owns 375 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 150 shares during the last quarter. Finally, Lake Point Wealth Management bought a new position in Chevron during the second quarter valued at $43,000. Institutional investors own 65.55% of the company’s stock.

Chevron stock opened at $114.51 on Friday. 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 Co. has a 1-year low of $83.53 and a 1-year high of $118.08. The firm has a market capitalization of $220.74 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 2.54 and a beta of 1.30. The company’s 50-day moving average is $109.96 and its 200 day moving average is $105.01.

Chevron (NYSE:CVX) last issued its earnings results on Thursday, October 28th. The oil and gas company reported $2.96 EPS for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.75. The business had revenue of $44.71 billion for the quarter, compared to analyst estimates of $40.89 billion. Chevron had a net margin of 7.10% and a return on equity of 7.95%. The company’s quarterly revenue was up 82.9% compared to the same quarter last year. During the same period last year, the company posted $0.11 earnings per share. Research analysts anticipate that Chevron Co. will post 8.35 earnings per share for the current fiscal year.

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

In other Chevron news, CEO Michael K. Wirth sold 26,250 shares of the firm’s stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $118.01, for a total value of $3,097,762.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Inchausti sold 5,600 shares of Chevron stock in a transaction on Wednesday, October 20th. The stock was sold at an average price of $112.01, for a total transaction of $627,256.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 325,651 shares of company stock worth $37,293,688. Corporate insiders own 0.28% of the company’s stock.

A number of research firms have recently commented on CVX. UBS Group raised Chevron from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a report on Monday, November 15th. Wells Fargo & Company lifted their price objective on Chevron from $109.00 to $115.00 and gave the company an “equal weight” rating in a research report on Monday, November 1st. Royal Bank of Canada raised Chevron from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $130.00 to $145.00 in a research report on Wednesday. Mizuho restated a “buy” rating on shares of Chevron in a report on Wednesday, November 3rd. Finally, Morgan Stanley boosted their target price on shares of Chevron from $149.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, November 19th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $121.23.

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.

Further Reading: Why do company’s buyback their stock?

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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