Sather Financial Group Inc raised its position in Chevron Corporation (NYSE:CVX – Free Report) by 50.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,512 shares of the oil and gas company’s stock after purchasing an additional 1,170 shares during the period. Sather Financial Group Inc’s holdings in Chevron were worth $503,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. Greenfield Savings Bank increased its stake in Chevron by 0.6% in the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after purchasing an additional 68 shares in the last quarter. Atwater Malick LLC increased its stake in Chevron by 2.4% in the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after purchasing an additional 68 shares in the last quarter. Hubbell Strickland Wealth Management LLC increased its stake in Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock valued at $1,443,000 after purchasing an additional 68 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in Chevron by 4.1% in the second quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company’s stock valued at $260,000 after purchasing an additional 71 shares in the last quarter. Finally, GDS Wealth Management increased its stake in Chevron by 4.4% in the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.
Analysts Set New Price Targets
CVX has been the subject of several research analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Melius Research initiated coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. TD Cowen upped their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Wells Fargo & Company reiterated an “overweight” rating and issued a $178.00 price target on shares of Chevron in a report on Friday, August 1st. Finally, Melius initiated coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of “Hold” and a consensus price target of $165.40.
Chevron Stock Performance
Shares of CVX opened at $149.11 on Friday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The firm has a fifty day simple moving average of $156.10 and a 200 day simple moving average of $148.54. The stock has a market capitalization of $257.66 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.92 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.
Chevron (NYSE:CVX – Get Free Report) last announced its earnings results 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 during the quarter, compared to analysts’ expectations 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. Research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.
Chevron Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid 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 4.6%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.
Insiders Place Their Bets
In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the 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 sale, the vice president owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John B. Hess sold 375,000 shares of the 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 sale, the director owned 1,403,045 shares of the company’s stock, 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. Company insiders own 0.21% of the company’s stock.
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.
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