Balefire LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX – Free Report) by 187.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,389 shares of the oil and gas company’s stock after acquiring an additional 3,511 shares during the period. Balefire LLC’s holdings in Chevron were worth $772,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of CVX. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 4.9% in the first 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 buying an additional 1,574,464 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Chevron by 5.5% in the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock worth $2,652,437,000 after buying an additional 827,851 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Chevron by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after buying an additional 40,758 shares in the last quarter. GQG Partners LLC bought a new position in shares of Chevron in the first quarter worth approximately $1,466,751,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Chevron by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,497,288 shares of the oil and gas company’s stock worth $1,421,511,000 after buying an additional 573,072 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.
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Insiders Place Their Bets
In other Chevron 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 value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on CVX shares. Morgan Stanley started coverage on shares of Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price on the stock. Evercore ISI reiterated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Melius began coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Bank of America boosted their price objective on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $165.05.
Check Out Our Latest Stock Report on Chevron
Chevron Stock Performance
CVX opened at $159.98 on Thursday. The stock has a market capitalization of $276.44 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.00 and a beta of 0.90. The company has a fifty day moving average of $155.13 and a 200 day moving average of $148.94. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. 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 (NYSE:CVX – Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during 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%. Chevron’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the company posted $2.55 earnings per share. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders 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 4.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.
Chevron Profile
(Free Report)
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.
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