Syntax Research Inc. Acquires 702 Shares of Chevron Corporation $CVX

Syntax Research Inc. lifted its holdings in Chevron Corporation (NYSE:CVX) by 15.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,158 shares of the oil and gas company’s stock after acquiring an additional 702 shares during the period. Syntax Research Inc.’s holdings in Chevron were worth $739,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CVX. Apella Capital LLC raised its position in shares of Chevron by 21.6% in the 1st quarter. Apella Capital LLC now owns 10,477 shares of the oil and gas company’s stock worth $1,753,000 after acquiring an additional 1,859 shares in the last quarter. Johnson & White Wealth Management LLC raised its position in shares of Chevron by 12.1% in the 1st quarter. Johnson & White Wealth Management LLC now owns 3,967 shares of the oil and gas company’s stock worth $664,000 after acquiring an additional 427 shares in the last quarter. Bay Rivers Group grew its stake in shares of Chevron by 8.4% in the 1st quarter. Bay Rivers Group now owns 1,605 shares of the oil and gas company’s stock valued at $268,000 after buying an additional 125 shares during the period. HF Advisory Group LLC bought a new stake in Chevron in the 1st quarter valued at about $204,000. Finally, Naples Global Advisors LLC raised its stake in Chevron by 2.1% during the 1st quarter. Naples Global Advisors LLC now owns 28,781 shares of the oil and gas company’s stock worth $4,815,000 after buying an additional 586 shares during the period. 72.42% of the stock is owned by institutional investors.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of Chevron 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 transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred 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 transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Chevron Price Performance

CVX stock opened at $153.53 on Friday. The company has a market capitalization of $265.30 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 1.97 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The business has a 50-day simple moving average of $156.26 and a two-hundred day simple moving average of $149.14.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) 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 the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.55 EPS. Research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVX. Melius Research began coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. UBS Group upped their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Scotiabank reaffirmed a “sector perform” rating and set a $160.00 price target (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Bank of America upped their price target on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Finally, Mizuho dropped their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $165.05.

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.