Seamount Financial Group Inc. Boosts Holdings in Chevron Corporation $CVX

Seamount Financial Group Inc. grew its stake in Chevron Corporation (NYSE:CVX) by 95.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,981 shares of the oil and gas company’s stock after purchasing an additional 6,345 shares during the quarter. Seamount Financial Group Inc.’s holdings in Chevron were worth $1,859,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. CCG Wealth Management LLC raised its holdings in shares of Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock valued at $1,060,000 after acquiring an additional 145 shares during the last quarter. Ignite Planners LLC raised its stake in Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock valued at $2,060,000 after purchasing an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. lifted its holdings in Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after purchasing an additional 495 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Chevron by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock worth $24,075,000 after purchasing an additional 675 shares during the last quarter. Finally, Capital Advisors Inc. OK grew its holdings in shares of Chevron by 0.3% during the first quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock worth $95,231,000 after buying an additional 1,755 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred 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 $222,102,023.50. The trade was a 21.09% 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 topic of a number of recent research reports. UBS Group boosted their price target on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Bank of America boosted their target price on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Raymond James Financial restated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. TD Cowen lifted their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Eleven research 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. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and an average target price of $165.05.

Chevron Trading Up 0.3%

CVX opened at $153.99 on Tuesday. The stock has a market capitalization of $266.09 billion, a PE ratio of 19.82, a P/E/G ratio of 1.99 and a beta of 0.84. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The business’s 50 day moving average price is $156.19 and its 200 day moving average price is $148.80.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping 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 company had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter last year, the firm earned $2.55 earnings per share. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. As a group, equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

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

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.