Global X Japan Co. Ltd. Boosts Stock Position in Chevron Corporation $CVX

Global X Japan Co. Ltd. increased its position in shares of Chevron Corporation (NYSE:CVX) by 11.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,318 shares of the oil and gas company’s stock after purchasing an additional 428 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Chevron were worth $618,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Bridge Creek Capital Management LLC boosted its holdings in Chevron by 4.7% in the second quarter. Bridge Creek Capital Management LLC now owns 24,924 shares of the oil and gas company’s stock valued at $3,569,000 after purchasing an additional 1,120 shares during the last quarter. My Legacy Advisors LLC boosted its stake in shares of Chevron by 13.0% in the second quarter. My Legacy Advisors LLC now owns 7,125 shares of the oil and gas company’s stock worth $1,098,000 after buying an additional 821 shares during the last quarter. Lantz Financial LLC grew its holdings in Chevron by 9.3% during the second quarter. Lantz Financial LLC now owns 26,225 shares of the oil and gas company’s stock worth $3,755,000 after acquiring an additional 2,223 shares during the period. Viking Fund Management LLC raised its position in Chevron by 29.1% during the second quarter. Viking Fund Management LLC now owns 151,000 shares of the oil and gas company’s stock valued at $21,622,000 after acquiring an additional 34,000 shares in the last quarter. Finally, Spring Capital Management LLC lifted its holdings in Chevron by 1.9% in the second quarter. Spring Capital Management LLC now owns 36,049 shares of the oil and gas company’s stock valued at $5,162,000 after acquiring an additional 687 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction that occurred on 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. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following 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 position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CVX shares. Wells Fargo & Company reiterated an “overweight” rating and issued a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Barclays reiterated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Evercore ISI restated an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Finally, TD Cowen increased their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $165.05.

Chevron Stock Performance

NYSE CVX opened at $156.11 on Friday. 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 stock’s 50 day simple moving average is $155.24 and its 200-day simple moving average is $149.00. The company has a market cap of $269.76 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 1.99 and a beta of 0.90. 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, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.55 EPS. As a group, equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued 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 currently 88.03%.

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.