Investmark Advisory Group LLC Buys 333 Shares of Chevron Co. (NYSE:CVX)
Investmark Advisory Group LLC grew its stake in Chevron Co. (NYSE:CVX – Get Rating) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,224 shares of the oil and gas company’s stock after purchasing an additional 333 shares during the period. Chevron comprises approximately 3.2% of Investmark Advisory Group LLC’s investment portfolio, making the stock its 10th largest position. Investmark Advisory Group LLC’s holdings in Chevron were worth $3,217,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Your Advocates Ltd. LLP acquired a new stake in Chevron during the 1st quarter worth approximately $25,000. Cordant Inc. acquired a new stake in Chevron during the 1st quarter worth approximately $29,000. Joseph P. Lucia & Associates LLC bought a new position in Chevron during the 1st quarter worth approximately $30,000. Orion Capital Management LLC raised its holdings in Chevron by 85.0% during the 1st quarter. Orion Capital Management LLC now owns 222 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 102 shares during the last quarter. Finally, Worth Asset Management LLC bought a new position in Chevron during the 1st quarter worth approximately $36,000. 69.30% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on CVX shares. Cowen raised their price target on shares of Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, August 15th. Credit Suisse Group restated an “outperform” rating and set a $202.00 price target on shares of Chevron in a report on Thursday, August 11th. Piper Sandler lifted their price objective on shares of Chevron from $189.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, September 12th. Citigroup lowered their price objective on shares of Chevron from $170.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 13th. Finally, Morgan Stanley lifted their price objective on shares of Chevron from $187.00 to $193.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.20.
Insider Buying and Selling
In related news, Director Wanda M. Austin sold 11,432 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $161.45, for a total value of $1,845,696.40. Following the transaction, the director now directly owns 3,560 shares of the company’s stock, valued at approximately $574,762. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Chevron news, EVP James William Johnson sold 85,300 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $164.01, for a total transaction of $13,990,053.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 directly owns 3,560 shares in the company, valued at $574,762. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 141,732 shares of company stock valued at $23,024,499. 0.32% of the stock is owned by insiders.
Chevron Price Performance
CVX opened at $144.77 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.11. The company has a market capitalization of $284.45 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 0.56 and a beta of 1.15. The firm’s fifty day moving average price is $155.88 and its two-hundred day moving average price is $160.02. Chevron Co. has a 1 year low of $99.65 and a 1 year high of $182.40.
Chevron (NYSE:CVX – Get Rating) last posted its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.02 by $0.80. The firm had revenue of $68.76 billion for the quarter, compared to the consensus estimate of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The business’s revenue for the quarter was up 82.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.71 EPS. As a group, analysts anticipate that Chevron Co. will post 18.37 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date was Thursday, August 18th. Chevron’s dividend payout ratio (DPR) is currently 37.89%.
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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