Madrona Financial Services LLC Takes Position in Chevron Corporation $CVX

Madrona Financial Services LLC purchased a new position in shares of Chevron Corporation (NYSE:CVX) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,033 shares of the oil and gas company’s stock, valued at approximately $1,293,000.

Other large investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd increased its position in shares of Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 122 shares during the period. Elequin Capital LP bought a new stake in shares of Chevron in the first quarter worth about $31,000. IFS Advisors LLC increased its holdings in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares during the period. Cloud Capital Management LLC bought a new position in Chevron during the 1st quarter valued at approximately $39,000. Finally, Investment Management Corp VA ADV lifted its holdings in Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after buying an additional 149 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Bank of America boosted their target price on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Melius began coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Evercore ISI restated an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a report on Thursday, July 31st. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, Morgan Stanley assumed coverage on shares of Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 price target on the stock. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $165.05.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 375,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Chevron Stock Down 0.4%

NYSE:CVX opened at $154.64 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The firm’s 50-day moving average price is $156.31 and its 200-day moving average price is $149.17. The company has a market capitalization of $267.21 billion, a PE ratio of 19.90, a P/E/G ratio of 1.97 and a beta of 0.84. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the previous year, the firm posted $2.55 earnings per share. Chevron’s quarterly revenue was down 12.4% on a year-over-year basis. On average, equities analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is presently 88.03%.

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.