Valmark Advisers Inc. Buys 663 Shares of Chevron Corporation $CVX

Valmark Advisers Inc. boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 4.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,759 shares of the oil and gas company’s stock after acquiring an additional 663 shares during the quarter. Valmark Advisers Inc.’s holdings in Chevron were worth $2,257,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Harvest Fund Management Co. Ltd boosted its stake in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP bought a new position in shares of Chevron in the 1st quarter valued at about $31,000. Cloud Capital Management LLC bought a new position in shares of Chevron in the 1st quarter valued at about $39,000. Investment Management Corp VA ADV boosted its stake in shares of 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 valued at $39,000 after purchasing an additional 149 shares during the last quarter. Finally, Cooksen Wealth LLC bought a new position in shares of Chevron in the 1st quarter valued at about $43,000. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $153.76 on Thursday. The stock has a market capitalization of $265.70 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.99 and a beta of 0.84. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a 50 day moving average of $156.15 and a 200-day moving average of $148.88. The company has a quick ratio of 0.74, a current ratio of 1.00 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, topping the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the business earned $2.55 EPS. As a group, equities research analysts forecast 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. Investors of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CVX has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on shares of Chevron in a research report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price target on the stock. Evercore ISI reiterated an “outperform” rating and issued a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Wells Fargo & Company reiterated an “overweight” rating and issued a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Melius assumed coverage on shares of Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Finally, TD Cowen raised their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $165.15.

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.