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

First City Capital Management Inc. boosted its position in Chevron Co. (NYSE:CVX - Free Report) by 21.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,549 shares of the oil and gas company's stock after buying an additional 3,251 shares during the quarter. Chevron makes up about 1.4% of First City Capital Management Inc.'s holdings, making the stock its 16th biggest position. First City Capital Management Inc.'s holdings in Chevron were worth $2,732,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in Chevron by 19,404.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company's stock valued at $7,218,280,000 after purchasing an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in shares of Chevron by 15,750.1% in the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company's stock worth $574,551,000 after acquiring an additional 3,876,731 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Chevron by 55.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company's stock worth $1,335,492,000 after acquiring an additional 3,048,819 shares during the last quarter. Wulff Hansen & CO. raised its stake in shares of Chevron by 15,542.0% in the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company's stock worth $183,896,000 after acquiring an additional 1,168,137 shares during the last quarter. Finally, Capital International Investors grew its position in shares of Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company's stock worth $2,116,600,000 after buying an additional 743,042 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

NYSE CVX traded down $1.43 on Tuesday, hitting $159.33. 2,662,044 shares of the stock were exchanged, compared to its average volume of 7,648,356. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The business's fifty day moving average is $149.80 and its 200 day moving average is $152.57. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a market capitalization of $286.33 billion, a PE ratio of 17.55, a P/E/G ratio of 3.63 and a beta of 1.09.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the previous year, the company earned $3.05 earnings per share. The company's quarterly revenue was down 6.3% on a year-over-year basis. Research analysts anticipate that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.09%. Chevron's dividend payout ratio (DPR) is presently 71.65%.

Analyst Ratings Changes

Several brokerages have recently commented on CVX. Royal Bank of Canada lifted their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. DZ Bank upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Truist Financial upped their price target on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a report on Monday, November 4th. Bank of America initiated coverage on shares of Chevron in a report on Thursday, October 17th. They issued a "buy" rating and a $168.00 price target for the company. Finally, Wells Fargo & Company reduced their price target on shares of Chevron from $196.00 to $169.00 and set an "overweight" rating for the company in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $174.93.

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.