Titleist Asset Management LLC Increases Stock Holdings in Chevron Corporation $CVX

Titleist Asset Management LLC increased its position in shares of Chevron Corporation (NYSE:CVX) by 19.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,482 shares of the oil and gas company’s stock after purchasing an additional 4,744 shares during the period. Titleist Asset Management LLC’s holdings in Chevron were worth $4,221,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CVX. Barnes Pettey Financial Advisors LLC grew its holdings in shares of Chevron by 5.5% during the 2nd quarter. Barnes Pettey Financial Advisors LLC now owns 3,152 shares of the oil and gas company’s stock worth $451,000 after purchasing an additional 165 shares during the period. Vestor Capital LLC raised its stake in shares of Chevron by 3,518.0% in the 2nd quarter. Vestor Capital LLC now owns 46,455 shares of the oil and gas company’s stock valued at $6,652,000 after acquiring an additional 45,171 shares during the period. J. L. Bainbridge & Co. Inc. boosted its position in shares of Chevron by 1.9% during the 2nd quarter. J. L. Bainbridge & Co. Inc. now owns 4,291 shares of the oil and gas company’s stock worth $614,000 after purchasing an additional 80 shares during the period. Quantum Private Wealth LLC increased its holdings in Chevron by 2.7% in the 2nd quarter. Quantum Private Wealth LLC now owns 3,696 shares of the oil and gas company’s stock valued at $529,000 after purchasing an additional 97 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Chevron by 4.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock valued at $4,979,255,000 after purchasing an additional 1,342,723 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. Mizuho raised their price target on Chevron from $191.00 to $204.00 and gave the stock an “outperform” rating in a research report on Thursday, November 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Wells Fargo & Company boosted their price target on shares of Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Finally, Morgan Stanley raised their price objective on shares of Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. 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 company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $166.55.

Chevron Price Performance

CVX stock opened at $149.93 on Friday. The business’s 50-day moving average is $154.83 and its two-hundred day moving average is $150.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The firm has a market capitalization of $301.89 billion, a P/E ratio of 19.30, a P/E/G ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The business had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.48 earnings per share. Analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

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.