SGL Investment Advisors Inc. Acquires 412 Shares of Chevron Corporation $CVX

SGL Investment Advisors Inc. grew its holdings in Chevron Corporation (NYSE:CVX) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,551 shares of the oil and gas company’s stock after buying an additional 412 shares during the quarter. Chevron accounts for approximately 2.5% of SGL Investment Advisors Inc.’s holdings, making the stock its 10th biggest holding. SGL Investment Advisors Inc.’s holdings in Chevron were worth $5,295,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Independent Solutions Wealth Management LLC raised its position in Chevron by 3.5% in the second quarter. Independent Solutions Wealth Management LLC now owns 25,437 shares of the oil and gas company’s stock worth $3,642,000 after purchasing an additional 864 shares in the last quarter. Shell Asset Management Co. grew its stake in shares of Chevron by 21.4% in the 2nd quarter. Shell Asset Management Co. now owns 51,115 shares of the oil and gas company’s stock valued at $7,319,000 after purchasing an additional 9,002 shares during the period. Godsey & Gibb Inc. raised its holdings in shares of Chevron by 4.8% in the 2nd quarter. Godsey & Gibb Inc. now owns 132,789 shares of the oil and gas company’s stock worth $19,014,000 after buying an additional 6,130 shares in the last quarter. Solitude Financial Services lifted its position in shares of Chevron by 8.2% during the 2nd quarter. Solitude Financial Services now owns 25,325 shares of the oil and gas company’s stock worth $3,626,000 after buying an additional 1,913 shares during the period. Finally, TriaGen Wealth Management LLC boosted its stake in Chevron by 1.5% in the 2nd quarter. TriaGen Wealth Management LLC now owns 12,415 shares of the oil and gas company’s stock valued at $1,778,000 after buying an additional 182 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.3%

Shares of NYSE:CVX opened at $153.99 on Tuesday. 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 stock has a market cap of $266.09 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 1.99 and a beta of 0.84. The company has a 50 day moving average of $156.19 and a 200-day moving average of $148.80. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last released its earnings results 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 net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the previous year, the business earned $2.55 EPS. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

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

Insider Buying and Selling

In related news, 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 transaction, the director 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CVX shares. TD Cowen lifted their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Mizuho decreased their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. UBS Group increased their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Chevron has a consensus rating of “Hold” and an average price target 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.