Chevron Corporation $CVX Shares Purchased by Hennessy Advisors Inc.

Hennessy Advisors Inc. boosted its position in Chevron Corporation (NYSE:CVX) by 0.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,482 shares of the oil and gas company’s stock after purchasing an additional 600 shares during the period. Hennessy Advisors Inc.’s holdings in Chevron were worth $9,376,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CVX. Kingstone Capital Partners Texas LLC lifted its position in Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares during the period. GQG Partners LLC bought a new stake in shares of Chevron during the 1st quarter worth $1,466,751,000. Nuveen LLC bought a new stake in shares of Chevron during the 1st quarter worth $1,362,232,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 4.9% in the 1st 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 raised its position 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 worth $316,483,000 after purchasing an additional 1,107,628 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on 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 owned 1,181 shares in the company, valued at $188,960. This represents 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 0.1%

NYSE:CVX opened at $153.59 on Friday. The stock’s 50 day moving average price is $156.23 and its 200 day moving average price is $149.09. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a market capitalization of $265.40 billion, a P/E ratio of 19.77, a P/E/G ratio of 1.98 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 (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the company posted $2.55 earnings per share. The firm’s revenue was down 12.4% on a year-over-year basis. On average, research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron’s dividend payout ratio is currently 88.03%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Wells Fargo & Company reaffirmed an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. UBS Group upped their price objective on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research note on Saturday, September 27th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $165.05.

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.