Chevron Corporation $CVX Holdings Increased by Morningstar Investment Management LLC

Morningstar Investment Management LLC grew its stake in shares of Chevron Corporation (NYSE:CVX) by 29.4% during the second quarter, Holdings Channel reports. The institutional investor owned 17,617 shares of the oil and gas company’s stock after acquiring an additional 3,998 shares during the period. Morningstar Investment Management LLC’s holdings in Chevron were worth $2,523,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Kingstone Capital Partners Texas LLC grew 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 worth $13,214,757,000 after purchasing an additional 83,702,101 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Chevron in the 1st quarter worth approximately $1,466,751,000. Nuveen LLC acquired a new position in shares of Chevron in the 1st quarter worth approximately $1,362,232,000. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after purchasing an additional 1,574,464 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of Chevron by 141.2% in 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 purchasing an additional 1,107,628 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Chevron stock opened at $151.86 on Tuesday. The firm’s 50 day simple moving average is $156.12 and its 200-day simple moving average is $148.31. The company has a market cap of $262.42 billion, a P/E ratio of 19.54, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period last year, the firm posted $2.55 earnings per share. As a group, equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors 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 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CVX shares. Barclays lowered their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Scotiabank lifted their price objective on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Finally, Melius Research assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of “Hold” and an average target price of $165.40.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% 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.