LGT Financial Advisors LLC Has $937,000 Holdings in Chevron Corporation $CVX

LGT Financial Advisors LLC boosted its position in Chevron Corporation (NYSE:CVX) by 9.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,545 shares of the oil and gas company’s stock after purchasing an additional 550 shares during the period. Chevron makes up approximately 2.4% of LGT Financial Advisors LLC’s holdings, making the stock its 12th biggest position. LGT Financial Advisors LLC’s holdings in Chevron were worth $937,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CVX. Kingstone Capital Partners Texas LLC lifted its stake in shares of Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares during the period. GQG Partners LLC bought a new stake in Chevron in the first quarter worth approximately $1,466,751,000. Nuveen LLC bought a new stake in Chevron in the first quarter worth approximately $1,362,232,000. Charles Schwab Investment Management Inc. lifted its stake in Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after buying an additional 1,574,464 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Chevron by 141.2% during the 1st 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 buying an additional 1,107,628 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of the 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 completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction dated 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 represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Up 0.9%

CVX stock opened at $154.53 on Tuesday. The firm has a market capitalization of $267.02 billion, a PE ratio of 19.89, a P/E/G ratio of 2.02 and a beta of 0.84. 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 Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock’s 50 day moving average is $156.05 and its 200-day moving average is $148.04.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. During the same period last year, the business earned $2.55 EPS. The business’s revenue was down 12.4% on a year-over-year basis. Sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently weighed in on CVX shares. Piper Sandler lifted their price objective on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Melius Research started coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective on the stock. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Finally, Bank of America upped their price target on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Eleven equities 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $165.25.

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.