Warburton Capital Management LLC Takes $205,000 Position in Chevron Corporation $CVX

Warburton Capital Management LLC bought a new stake in Chevron Corporation (NYSE:CVX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,308 shares of the oil and gas company’s stock, valued at approximately $205,000.

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 6,928 shares during the period. Strategic Investment Advisors MI grew its holdings in Chevron by 12.8% during the first quarter. Strategic Investment Advisors MI now owns 1,729 shares of the oil and gas company’s stock valued at $289,000 after purchasing an additional 196 shares during the period. waypoint wealth counsel grew its holdings in Chevron by 4.4% during the first quarter. waypoint wealth counsel now owns 2,325 shares of the oil and gas company’s stock valued at $389,000 after purchasing an additional 98 shares during the period. Independent Solutions Wealth Management LLC grew its holdings in Chevron by 0.8% during the first quarter. Independent Solutions Wealth Management LLC now owns 24,573 shares of the oil and gas company’s stock valued at $4,111,000 after purchasing an additional 202 shares during the period. Finally, DORVAL Corp bought a new position in Chevron during the first quarter valued at $215,000. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 0.6%

NYSE CVX opened at $156.48 on Friday. The stock’s 50-day simple moving average is $156.05 and its two-hundred day simple moving average is $148.25. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market capitalization of $270.39 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 4.42 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 (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. During the same period last year, the firm earned $2.55 earnings per share. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. Research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm 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 presently 88.03%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CVX. Scotiabank increased their price objective on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Bank of America increased their target price on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. TD Cowen increased their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Raymond James Financial restated an “outperform” rating and set a $160.00 target price (down previously from $170.00) on shares of Chevron in a research report on Friday, October 17th. Finally, UBS Group increased their price objective on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus price target of $165.25.

Insider Activity

In related news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was 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 owned by company insiders.

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.