Donaldson Capital Management LLC Reduces Stock Position in Chevron Co. (NYSE:CVX)

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Donaldson Capital Management LLC lessened its position in shares of Chevron Co. (NYSE:CVX) by 13.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,697 shares of the oil and gas company’s stock after selling 854 shares during the quarter. Donaldson Capital Management LLC’s holdings in Chevron were worth $676,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Symmetry Partners LLC boosted its position in Chevron by 90.3% in the 3rd quarter. Symmetry Partners LLC now owns 17,152 shares of the oil and gas company’s stock valued at $2,034,000 after buying an additional 8,141 shares during the last quarter. James Hambro & Partners bought a new stake in Chevron during the third quarter worth $569,000. Hemenway Trust Co LLC raised its position in Chevron by 22.1% during the third quarter. Hemenway Trust Co LLC now owns 115,769 shares of the oil and gas company’s stock worth $13,730,000 after acquiring an additional 20,943 shares in the last quarter. Benedict Financial Advisors Inc. raised its position in Chevron by 2.4% during the third quarter. Benedict Financial Advisors Inc. now owns 28,455 shares of the oil and gas company’s stock worth $3,375,000 after acquiring an additional 677 shares in the last quarter. Finally, Broderick Brian C raised its position in Chevron by 25.6% during the third quarter. Broderick Brian C now owns 39,257 shares of the oil and gas company’s stock worth $4,656,000 after acquiring an additional 7,994 shares in the last quarter. Institutional investors and hedge funds own 65.68% of the company’s stock.

In other news, EVP Joseph C. Geagea sold 5,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $118.10, for a total transaction of $590,500.00. Following the completion of the transaction, the executive vice president now directly owns 6,243 shares in the company, valued at $737,298.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph C. Geagea sold 8,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total value of $980,000.00. Following the transaction, the insider now owns 9,243 shares of the company’s stock, valued at $1,132,267.50. The disclosure for this sale can be found here. Insiders have sold 91,750 shares of company stock valued at $11,216,850 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Shares of CVX stock traded down $1.03 during trading hours on Friday, hitting $120.86. 285,051 shares of the company were exchanged, compared to its average volume of 4,975,516. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 1.15. Chevron Co. has a one year low of $100.22 and a one year high of $127.34. The business’s 50-day simple moving average is $117.71 and its two-hundred day simple moving average is $119.95. The stock has a market capitalization of $231.49 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 3.25 and a beta of 0.99.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.11). Chevron had a return on equity of 8.89% and a net margin of 8.70%. The company had revenue of $36.12 billion for the quarter, compared to the consensus estimate of $37.69 billion. During the same period in the previous year, the business posted $2.11 EPS. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. As a group, analysts anticipate that Chevron Co. will post 6.25 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.76 annualized dividend and a dividend yield of 3.94%. Chevron’s payout ratio is presently 57.70%.

CVX has been the topic of several research analyst reports. Cowen dropped their price objective on shares of Chevron from $140.00 to $134.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Independent Research set a $127.00 target price on Chevron and gave the stock a “neutral” rating in a research note on Thursday, August 29th. ValuEngine raised Chevron from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley cut their target price on Chevron from $144.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday. Finally, BMO Capital Markets started coverage on Chevron in a research note on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 target price for the company. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $135.88.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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