Tcwp LLC purchased a new position in shares of Chevron Co. (NYSE:CVX – Get Rating) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 15,080 shares of the oil and gas company's stock, valued at approximately $2,455,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Clarity Financial LLC raised its stake in Chevron by 2.2% during the 1st quarter. Clarity Financial LLC now owns 2,790 shares of the oil and gas company's stock worth $454,000 after buying an additional 61 shares during the period. SYM FINANCIAL Corp raised its stake in Chevron by 3.4% during the 1st quarter. SYM FINANCIAL Corp now owns 1,895 shares of the oil and gas company's stock worth $309,000 after buying an additional 62 shares during the period. LCM Capital Management Inc raised its stake in Chevron by 0.9% during the 1st quarter. LCM Capital Management Inc now owns 7,306 shares of the oil and gas company's stock worth $1,190,000 after buying an additional 63 shares during the period. John G Ullman & Associates Inc. raised its stake in shares of Chevron by 1.1% in the first quarter. John G Ullman & Associates Inc. now owns 6,002 shares of the oil and gas company's stock worth $977,000 after purchasing an additional 67 shares during the last quarter. Finally, SMH Capital Advisors Inc. raised its stake in shares of Chevron by 1.7% in the first quarter. SMH Capital Advisors Inc. now owns 4,108 shares of the oil and gas company's stock worth $669,000 after purchasing an additional 68 shares during the last quarter. 65.89% of the stock is owned by institutional investors and hedge funds.
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Chevron Stock Performance
NYSE CVX traded down $4.09 on Monday, hitting $155.76. 118,189 shares of the stock traded hands, compared to its average volume of 13,287,983. The business's fifty day moving average is $152.39 and its two-hundred day moving average is $156.64. Chevron Co. has a 12 month low of $92.86 and a 12 month high of $182.40. The firm has a market capitalization of $306.04 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 0.64 and a beta of 1.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.31.
Chevron (NYSE:CVX – Get Rating) last announced its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, beating the consensus estimate of $4.66 by $1.16. The business had revenue of $68.76 billion during the quarter, compared to analyst estimates of $57.69 billion. Chevron had a return on equity of 19.73% and a net
margin of 13.45%. Chevron's revenue was up 82.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.71 earnings per share. As a group, equities analysts anticipate that Chevron Co. will post 17.75 EPS for the current fiscal year.
Chevron Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 19th will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.65%. Chevron's dividend payout ratio (DPR) is currently 37.89%.
Insider Activity
In other Chevron news, Director Wanda M. Austin sold 11,432 shares of the company's stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the sale, the director now directly owns 3,560 shares in the company, valued at $574,762. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Chevron news, Director Wanda M. Austin sold 12,039 shares of the company's stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $177.29, for a total transaction of $2,134,394.31. Following the completion of the sale, the director now directly owns 3,543 shares in the company, valued at $628,138.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Wanda M. Austin sold 11,432 shares of the company's stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the sale, the director now owns 3,560 shares of the company's stock, valued at $574,762. The disclosure for this sale can be found here. Insiders sold 176,570 shares of company stock worth $30,464,558 in the last three months. Corporate insiders own 0.32% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the company. Credit Suisse Group reissued an "outperform" rating and issued a $202.00 price objective on shares of Chevron in a research note on Thursday. The Goldman Sachs Group reissued a "neutral" rating and issued a $172.00 price objective on shares of Chevron in a research note on Thursday, August 4th. HSBC raised Chevron from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 20th. Societe Generale raised Chevron from a "hold" rating to a "buy" rating in a research note on Thursday, August 4th. Finally, Piper Sandler lowered their price objective on Chevron from $213.00 to $189.00 and set an "overweight" rating for the company in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $169.00.
Chevron Profile
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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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