Tri Ri Asset Management Corp Makes New Investment in Chevron Co. (NYSE:CVX)

Tri Ri Asset Management Corp purchased a new position in shares of Chevron Co. (NYSE:CVX - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,579 shares of the oil and gas company's stock, valued at approximately $3,031,000. Chevron makes up about 1.5% of Tri Ri Asset Management Corp's holdings, making the stock its 26th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rational Advisors LLC purchased a new stake in Chevron in the third quarter valued at $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron during the 3rd quarter worth about $29,000. Darwin Wealth Management LLC acquired a new position in Chevron in the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron during the 3rd quarter worth approximately $31,000. Finally, Anfield Capital Management LLC raised its position in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company's stock worth $34,000 after purchasing an additional 118 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction 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 approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by insiders.

Chevron Trading Down 0.5 %

NYSE:CVX traded down $0.84 during trading hours on Friday, hitting $153.87. The company had a trading volume of 5,699,994 shares, compared to its average volume of 7,672,458. The stock has a 50-day moving average price of $155.29 and a 200 day moving average price of $152.46. 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 company has a market capitalization of $276.52 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 2.98 and a beta of 1.10. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last announced 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 company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the firm posted $3.05 EPS. Chevron's revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities research analysts predict that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.24%. Chevron's dividend payout ratio is presently 71.65%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CVX shares. Wells Fargo & Company upped their price target on shares of Chevron from $171.00 to $188.00 and gave the company an "overweight" rating in a research report on Monday. UBS Group increased their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. DZ Bank upgraded Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. Finally, Royal Bank of Canada upped their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $177.13.

About Chevron

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.