Carret Asset Management LLC Boosts Stock Holdings in Chevron Corporation $CVX

Carret Asset Management LLC grew its position in shares of Chevron Corporation (NYSE:CVX) by 11.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 93,191 shares of the oil and gas company’s stock after buying an additional 9,366 shares during the quarter. Chevron accounts for 1.4% of Carret Asset Management LLC’s portfolio, making the stock its 12th largest position. Carret Asset Management LLC’s holdings in Chevron were worth $13,344,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Spinnaker Trust grew its holdings in shares of Chevron by 2.7% during the second quarter. Spinnaker Trust now owns 57,446 shares of the oil and gas company’s stock valued at $8,226,000 after buying an additional 1,485 shares during the last quarter. Savvy Advisors Inc. grew its holdings in shares of Chevron by 34.1% during the second quarter. Savvy Advisors Inc. now owns 25,474 shares of the oil and gas company’s stock valued at $3,648,000 after buying an additional 6,473 shares during the last quarter. Live Oak Private Wealth LLC grew its holdings in shares of Chevron by 0.7% during the second quarter. Live Oak Private Wealth LLC now owns 67,884 shares of the oil and gas company’s stock valued at $9,720,000 after buying an additional 440 shares during the last quarter. MeadowBrook Investment Advisors LLC grew its holdings in shares of Chevron by 15.2% during the second quarter. MeadowBrook Investment Advisors LLC now owns 5,965 shares of the oil and gas company’s stock valued at $854,000 after buying an additional 785 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Chevron by 8.4% during the second quarter. Assetmark Inc. now owns 152,075 shares of the oil and gas company’s stock valued at $21,776,000 after buying an additional 11,800 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CVX. TD Cowen increased their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Morgan Stanley began coverage on shares of Chevron in a research report on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price for the company. Wells Fargo & Company began coverage on shares of Chevron in a research report on Friday, October 17th. They issued an “overweight” rating and a $190.00 target price for the company. Finally, Melius Research began coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Chevron presently has a consensus rating of “Hold” and a consensus price target of $165.25.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction 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 transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction 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 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 SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

Chevron Trading Up 0.5%

NYSE:CVX opened at $154.92 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a market cap of $267.69 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 4.38 and a beta of 0.84. The company has a 50 day simple moving average of $156.11 and a two-hundred day simple moving average of $148.82.

Chevron (NYSE:CVX) last issued its quarterly 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 analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company’s revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.55 EPS. Research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid 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 dividend payout ratio (DPR) is currently 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.