apricus wealth LLC Has $4.70 Million Stake in Chevron Corporation $CVX

apricus wealth LLC raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 1.0% during the second quarter, HoldingsChannel reports. The fund owned 32,840 shares of the oil and gas company’s stock after purchasing an additional 340 shares during the quarter. Chevron comprises about 2.7% of apricus wealth LLC’s investment portfolio, making the stock its biggest holding. apricus wealth LLC’s holdings in Chevron were worth $4,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd lifted its holdings in shares of Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares in the last quarter. Elequin Capital LP bought a new stake in Chevron during the 1st quarter worth approximately $31,000. Cloud Capital Management LLC purchased a new stake in Chevron in the 1st quarter worth approximately $39,000. Investment Management Corp VA ADV boosted its holdings in Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares during the period. Finally, GFG Capital LLC purchased a new position in shares of Chevron during the 2nd quarter valued at $42,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CVX shares. Piper Sandler lifted their price objective on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Scotiabank raised their target price on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. UBS Group lifted their target price on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Finally, Melius began coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $165.25.

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’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 owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.9%

CVX stock opened at $154.53 on Tuesday. The company has a market capitalization of $267.02 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company’s 50 day moving average price is $156.05 and its two-hundred day moving average price is $148.04.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate 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 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 quarter last year, the firm earned $2.55 EPS. As a group, analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend 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.