Parkside Financial Bank & Trust Acquires 2,086 Shares of Chevron Co. (NYSE:CVX)

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Parkside Financial Bank & Trust boosted its holdings in Chevron Co. (NYSE:CVX) by 26.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 10,068 shares of the oil and gas company’s stock after purchasing an additional 2,086 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Chevron were worth $1,194,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in Chevron by 0.8% during the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 45,014 shares of the oil and gas company’s stock valued at $5,602,000 after buying an additional 379 shares during the period. Beese Fulmer Investment Management Inc. raised its holdings in Chevron by 0.4% during the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 58,040 shares of the oil and gas company’s stock valued at $7,222,000 after buying an additional 238 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Chevron by 74.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,387,145 shares of the oil and gas company’s stock valued at $171,630,000 after buying an additional 592,920 shares during the period. Goodman Financial Corp raised its holdings in Chevron by 1.2% during the 2nd quarter. Goodman Financial Corp now owns 50,084 shares of the oil and gas company’s stock valued at $6,232,000 after buying an additional 599 shares during the period. Finally, Gratus Capital LLC raised its holdings in Chevron by 7.4% during the 2nd quarter. Gratus Capital LLC now owns 14,591 shares of the oil and gas company’s stock valued at $1,816,000 after buying an additional 1,002 shares during the period. Institutional investors and hedge funds own 65.68% of the company’s stock.

In other news, insider David A. Inchausti sold 15,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $119.89, for a total transaction of $1,798,350.00. Following the transaction, the insider now owns 15,000 shares of the company’s stock, valued at approximately $1,798,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph C. Geagea sold 8,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $122.50, for a total value of $980,000.00. Following the transaction, the insider now directly owns 9,243 shares in the company, valued at approximately $1,132,267.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,750 shares of company stock worth $11,216,850. Insiders own 0.31% of the company’s stock.

CVX stock traded down $0.96 during midday trading on Friday, reaching $120.93. The company’s stock had a trading volume of 4,176,056 shares, compared to its average volume of 6,442,372. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 1.15. The stock has a fifty day simple moving average of $117.65 and a two-hundred day simple moving average of $119.96. Chevron Co. has a 1 year low of $100.22 and a 1 year high of $127.34. The firm has a market capitalization of $231.49 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 3.25 and a beta of 0.99.

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

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a $1.19 dividend. The ex-dividend date is Friday, November 15th. This represents a $4.76 dividend on an annualized basis and a yield of 3.94%. Chevron’s payout ratio is 57.70%.

Several analysts recently weighed in on CVX shares. Barclays started coverage on Chevron in a report on Monday, August 19th. They set an “overweight” rating and a $145.00 price target on the stock. Cowen decreased their price target on Chevron from $140.00 to $134.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. BMO Capital Markets started coverage on Chevron in a report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on Chevron from $142.00 to $139.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, Morgan Stanley decreased their price target on Chevron from $144.00 to $142.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Chevron has a consensus rating of “Buy” and a consensus target price of $135.88.

Chevron 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.

Further Reading: Commodities

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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