CX Institutional Buys 2,852 Shares of Chevron Corporation $CVX

CX Institutional increased its position in Chevron Corporation (NYSE:CVX) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,528 shares of the oil and gas company’s stock after acquiring an additional 2,852 shares during the quarter. CX Institutional’s holdings in Chevron were worth $7,521,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Greenfield Savings Bank lifted its stake in shares of Chevron by 0.6% in the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after buying an additional 68 shares during the period. GDS Wealth Management raised its holdings in Chevron by 4.4% in the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock valued at $285,000 after acquiring an additional 72 shares in the last quarter. AIMZ Investment Advisors LLC lifted its position in shares of Chevron by 4.2% in the 1st quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company’s stock worth $298,000 after acquiring an additional 72 shares during the period. Garde Capital Inc. grew its holdings in shares of Chevron by 3.2% during the 2nd quarter. Garde Capital Inc. now owns 2,355 shares of the oil and gas company’s stock worth $337,000 after purchasing an additional 72 shares in the last quarter. Finally, Clayton Financial Group LLC increased its position in shares of Chevron by 4.6% during the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 75 shares during the period. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CVX. Scotiabank reiterated a “sector perform” rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. TD Cowen lifted their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. UBS Group raised their price target on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Finally, Piper Sandler upped their price objective on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $165.05.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction 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 owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Chevron Trading Up 1.1%

CVX opened at $160.92 on Friday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a 50-day moving average price of $155.83 and a two-hundred day moving average price of $149.11. The stock has a market capitalization of $278.08 billion, a PE ratio of 20.71, a PEG ratio of 1.99 and a beta of 0.90. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.55 earnings per share. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

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.