Divergent Planning LLC Acquires Shares of 33,302 Chevron Corporation $CVX

Divergent Planning LLC bought a new position in Chevron Corporation (NYSE:CVX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 33,302 shares of the oil and gas company’s stock, valued at approximately $4,769,000. Chevron comprises 0.9% of Divergent Planning LLC’s portfolio, making the stock its 28th biggest position.

A number of other large investors have also recently made changes to their positions in CVX. GAMMA Investing LLC grew its stake in shares of Chevron by 27.3% during the first quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock valued at $5,408,000 after buying an additional 6,928 shares during the last quarter. Genesee Capital Advisors LLC lifted its stake in shares of Chevron by 2.4% during the 1st quarter. Genesee Capital Advisors LLC now owns 4,559 shares of the oil and gas company’s stock worth $763,000 after acquiring an additional 107 shares during the last quarter. Cherry Creek Investment Advisors Inc. boosted its holdings in Chevron by 2.2% during the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 4,430 shares of the oil and gas company’s stock valued at $741,000 after acquiring an additional 95 shares during the period. 1858 Wealth Management LLC bought a new position in Chevron in the 1st quarter valued at $216,000. Finally, Crumly & Associates Inc. grew its position in Chevron by 4.3% in the 1st quarter. Crumly & Associates Inc. now owns 3,438 shares of the oil and gas company’s stock valued at $575,000 after acquiring an additional 143 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.9%

Shares of NYSE CVX opened at $154.53 on Tuesday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The business has a fifty day moving average price of $156.05 and a 200 day moving average price of $148.04. The stock has a market capitalization of $267.02 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last announced 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. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.55 earnings per share. Equities research analysts expect 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 paid 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 88.03%.

Insider Buying and Selling

In other news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. TD Cowen boosted their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Barclays decreased their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Scotiabank upped their target price on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Finally, Melius Research started coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Chevron currently has an average rating of “Hold” and a consensus price target of $165.25.

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.