Chevron Corporation $CVX Shares Acquired by Gryphon Financial Partners LLC

Gryphon Financial Partners LLC raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 17.6% during the third quarter, Holdings Channel reports. The fund owned 24,272 shares of the oil and gas company’s stock after buying an additional 3,628 shares during the period. Gryphon Financial Partners LLC’s holdings in Chevron were worth $4,957,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Leuthold Group LLC grew its stake in shares of Chevron by 1,627.4% during the third quarter. Leuthold Group LLC now owns 43,099 shares of the oil and gas company’s stock valued at $8,801,000 after buying an additional 40,604 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of Chevron by 1.8% in the third quarter. Retirement Systems of Alabama now owns 1,162,074 shares of the oil and gas company’s stock worth $237,307,000 after buying an additional 21,048 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Chevron in the 3rd quarter valued at about $231,000. Joseph Group Capital Management lifted its stake in shares of Chevron by 5.1% in the 3rd quarter. Joseph Group Capital Management now owns 26,871 shares of the oil and gas company’s stock valued at $5,487,000 after acquiring an additional 1,299 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Chevron by 14.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 394,248 shares of the oil and gas company’s stock valued at $81,649,000 after acquiring an additional 50,103 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CVX. Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Dbs Bank raised Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. HSBC set a $90.00 price objective on Chevron in a research report on Friday, September 25th. Bank of America increased their price objective on Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Barclays raised their target price on shares of Chevron from $208.00 to $244.00 and gave the stock an “equal weight” rating in a report on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.88.

Insider Buying and Selling at Chevron

In other news, insider R. Pate sold 40,700 shares of Chevron stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total value of $9,224,655.00. Following the sale, the insider directly owned 8,791 shares in the company, valued at approximately $1,992,480.15. This trade represents a 82.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Andrew Walz sold 16,800 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider directly owned 14 shares in the company, valued at $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 379,470 shares of company stock valued at $77,216,415 in the last 90 days. Insiders own 0.56% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX opened at $210.91 on Tuesday. The company has a market cap of $416.71 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 0.51 and a beta of 0.47. The company has a 50-day moving average price of $215.09 and a 200-day moving average price of $194.63. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $236.48.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.87 by $0.41. The company had revenue of $65.24 billion for the quarter, compared to analysts’ expectations of $61.82 billion. Chevron had a return on equity of 14.64% and a net margin of 11.56%. Chevron’s quarterly revenue was up 36.3% on a year-over-year basis. During the same period last year, the firm earned $1.85 earnings per share. As a group, equities analysts anticipate that Chevron Corporation will post 18.56 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be given a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $7.12 dividend on an annualized basis and a yield of 3.4%. Chevron’s dividend payout ratio is presently 52.08%.

Chevron Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.