First City Capital Management Inc. Buys 3,251 Shares of Chevron Co. (NYSE:CVX)

First City Capital Management Inc. lifted its stake in Chevron Co. (NYSE:CVX) by 21.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,549 shares of the oil and gas company’s stock after buying an additional 3,251 shares during the quarter. Chevron comprises 1.4% of First City Capital Management Inc.’s portfolio, making the stock its 16th biggest holding. First City Capital Management Inc.’s holdings in Chevron were worth $2,732,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CVX. Fifth Third Wealth Advisors LLC raised its stake in Chevron by 12.5% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 36,999 shares of the oil and gas company’s stock valued at $5,449,000 after purchasing an additional 4,113 shares during the period. Wrapmanager Inc. raised its stake in Chevron by 4.8% during the 3rd quarter. Wrapmanager Inc. now owns 8,913 shares of the oil and gas company’s stock valued at $1,313,000 after purchasing an additional 408 shares during the period. BIP Wealth LLC grew its holdings in Chevron by 141.2% during the 3rd quarter. BIP Wealth LLC now owns 7,188 shares of the oil and gas company’s stock valued at $1,059,000 after buying an additional 4,208 shares in the last quarter. Prospera Financial Services Inc grew its holdings in Chevron by 12.6% during the 3rd quarter. Prospera Financial Services Inc now owns 150,824 shares of the oil and gas company’s stock valued at $22,217,000 after buying an additional 16,932 shares in the last quarter. Finally, Verity & Verity LLC grew its holdings in Chevron by 3.2% during the 3rd quarter. Verity & Verity LLC now owns 177,185 shares of the oil and gas company’s stock valued at $26,094,000 after buying an additional 5,426 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX opened at $160.78 on Tuesday. The business has a fifty day moving average of $149.80 and a 200 day moving average of $152.57. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $288.94 billion, a P/E ratio of 17.67, a PEG ratio of 3.63 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (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 analysts’ expectations of $48.86 billion. During the same quarter in the previous year, the business earned $3.05 EPS. Chevron’s revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Co. will post 10.55 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Analyst Ratings Changes

CVX has been the subject of several research analyst reports. Bank of America initiated coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Barclays raised their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. UBS Group raised their price target on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company dropped their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.93.

Insider Activity at Chevron

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

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.