Fruth Investment Management Has $7.52 Million Holdings in Chevron Corporation $CVX

Fruth Investment Management decreased its holdings in Chevron Corporation (NYSE:CVX) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,966 shares of the oil and gas company’s stock after selling 400 shares during the quarter. Chevron makes up about 2.1% of Fruth Investment Management’s investment portfolio, making the stock its 9th largest position. Fruth Investment Management’s holdings in Chevron were worth $7,522,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CVX. GQG Partners LLC bought a new position in Chevron in the 1st quarter valued at $1,466,751,000. Nuveen LLC bought a new position in Chevron in the 1st quarter valued at $1,362,232,000. GAMMA Investing LLC raised its position in Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock valued at $904,746,000 after purchasing an additional 5,382,847 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after acquiring an additional 1,574,464 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Chevron by 141.2% during the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after acquiring an additional 1,107,628 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.3%

Shares of NYSE:CVX opened at $158.26 on Friday. The company has a 50 day moving average price of $154.49 and a two-hundred day moving average price of $148.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market capitalization of $273.47 billion, a PE ratio of 20.37, a PEG ratio of 1.99 and a beta of 0.90. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter in the prior year, the company earned $2.55 EPS. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. Analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s payout ratio is presently 88.03%.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Morgan Stanley began coverage on Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective for the company. Bank of America boosted their price target on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday. Melius Research started coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $178.00 target price on shares of Chevron in a report on Friday, August 1st. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Chevron has a consensus rating of “Hold” and an average price target of $164.80.

Chevron 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.