Janney Montgomery Scott Boosts Chevron Stake to $191.94 Million

Janney Montgomery Scott LLC has increased its stake in Chevron Corporation (NYSE: CVX) by 2.5% during the third quarter of 2023, as detailed in its recent 13F filing with the U.S. Securities and Exchange Commission (SEC). The investment firm now holds 1,236,003 shares of the oil and gas giant, having acquired an additional 30,042 shares during the reporting period. As of the end of this latest quarter, Janney Montgomery Scott’s holdings in Chevron are valued at approximately $191.94 million.

Several other institutional investors have also adjusted their positions in Chevron recently. Notably, Quaker Wealth Management LLC expanded its stake by 197.7% in the second quarter, increasing its holdings to 217 shares, valued at $31,000. Similarly, Vermillion & White Wealth Management Group LLC raised its stake by 86.1% during the same quarter, now owning 255 shares worth $37,000 after adding 118 shares.

In addition to these changes, Marquette Asset Management LLC entered a new position in Chevron valued at around $41,000 in the third quarter. IMG Wealth Management Inc. also reported a 52.3% increase in its holdings, bringing its total to 265 shares valued at $38,000. Furthermore, Barnes Dennig Private Wealth Management LLC significantly lifted its position in Chevron by 306.1%, now owning 268 shares worth $42,000. Institutional investors currently hold 72.42% of Chevron’s stock.

In other news related to Chevron, Chief Financial Officer Eimear P. Bonner sold 28,334 shares of the company on January 5, 2024, at an average price of $165.05. This transaction amounted to approximately $4.68 million, resulting in a significant reduction of 86.65% in her ownership of the stock. Following this sale, Bonner retained 4,366 shares valued at around $720,608.30.

Similarly, insider Alana K. Knowles sold 7,956 shares on the same day, also at an average price of $165.05, totaling about $1.31 million. After this transaction, Knowles held 1,207 shares valued at approximately $199,215.35, marking an 86.83% decrease in her ownership. Over the past three months, Chevron insiders have sold 631,990 shares worth around $99.72 million, with insiders holding 0.20% of the company’s stock.

As for Chevron’s stock performance, shares opened at $162.36 on Tuesday, reflecting a 0.2% increase. The company has a market capitalization of $326.91 billion and a price-to-earnings ratio of 22.83. Chevron’s stock has fluctuated between a 52-week low of $132.04 and a high of $168.96. Its financial metrics indicate a debt-to-equity ratio of 0.19, a current ratio of 1.15, and a quick ratio of 0.86.

Chevron recently released its quarterly earnings data on October 31, 2023, reporting earnings per share of $1.85, surpassing analysts’ expectations of $1.71 by $0.14. The company generated $48.17 billion in revenue, exceeding the projected $46.99 billion. Despite these positive figures, Chevron’s revenue declined by 1.9% compared to the same quarter the previous year, when it reported earnings of $2.48 per share. Analysts predict that Chevron will post an earnings per share figure of 10.79 for the current fiscal year.

Additionally, Chevron has announced a quarterly dividend, which was disbursed on December 10, 2023. Shareholders of record on November 18 received a dividend of $1.71, resulting in an annualized dividend of $6.84 and a dividend yield of 4.2%. The company’s current dividend payout ratio stands at 96.20%.

Chevron Corporation (NYSE: CVX) is a major American multinational energy company, involved in all aspects of the oil and gas sector. Its operations include upstream exploration and production, midstream transportation and storage, and downstream refining and marketing of fuels and lubricants, along with petrochemical manufacturing through joint ventures and subsidiaries. The company markets its products under renowned brands like Chevron, Texaco, and Caltex, serving a variety of retail customers and commercial fleets globally.

For more detailed insights on Chevron’s stock status, investors can access the latest 13F filings and insider trades via financial news platforms.