Chevron Co. (NYSE:CVX) Shares Sold by Bell Investment Advisors Inc

Bell Investment Advisors Inc cut its stake in shares of Chevron Co. (NYSE:CVX) by 28.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,091 shares of the oil and gas company’s stock after selling 814 shares during the quarter. Bell Investment Advisors Inc’s holdings in Chevron were worth $308,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Chevron during the 1st quarter worth about $566,000. Montchanin Asset Management LLC purchased a new stake in shares of Chevron during the 1st quarter worth approximately $2,035,000. Heartland Bank & Trust Co boosted its holdings in shares of Chevron by 97.7% in the 1st quarter. Heartland Bank & Trust Co now owns 5,942 shares of the oil and gas company’s stock valued at $937,000 after buying an additional 2,936 shares in the last quarter. Advisory Resource Group grew its position in shares of Chevron by 12.5% in the 1st quarter. Advisory Resource Group now owns 4,476 shares of the oil and gas company’s stock valued at $706,000 after buying an additional 496 shares during the last quarter. Finally, CCM Investment Advisers LLC raised its stake in Chevron by 0.4% during the 1st quarter. CCM Investment Advisers LLC now owns 68,163 shares of the oil and gas company’s stock worth $10,752,000 after acquiring an additional 300 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX stock traded up $1.41 during trading hours on Wednesday, reaching $163.94. 1,157,873 shares of the company’s stock were exchanged, compared to its average volume of 7,631,230. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a market cap of $294.61 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 3.54 and a beta of 1.09. The company’s 50 day moving average is $152.32 and its two-hundred day moving average is $152.49.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the company earned $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities research analysts anticipate that Chevron Co. will post 10.53 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 3.98%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. UBS Group upped their price objective on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research note on Monday, November 4th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Mizuho reduced their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Finally, Barclays raised their price objective on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.56.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Company Profile

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