1,825 Shares in Chevron Corporation $CVX Acquired by Towerpoint Wealth LLC

Key Points

• Towerpoint Wealth LLC acquired 1,825 shares of Chevron Corporation ($CVX) valued at approximately $261,000 in the second quarter, according to their latest SEC filing.
• Chevron recently announced a quarterly dividend of $1.71 per share, yielding 4.3% annually, with a payout ratio of 88.03%.
• Chevron's stock has shown impressive performance with a market cap of $275.72 billion and shares trading at $159.56, surpassing earnings expectations in their latest report.

Towerpoint Wealth LLC bought a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,825 shares of the oil and gas company's stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. Sage Capital Advisors llc raised its position in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after purchasing an additional 919 shares during the last quarter. CCG Wealth Management LLC raised its position in Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after purchasing an additional 145 shares during the last quarter. Ignite Planners LLC raised its position in Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after purchasing an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. raised its position in Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after purchasing an additional 495 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Chevron by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after purchasing an additional 675 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of Chevron stock opened at $159.56 on Wednesday. The firm has a market cap of $275.72 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.97 and a beta of 0.90. The stock's 50-day moving average is $155.00 and its 200-day moving average is $148.86. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the company posted $2.55 earnings per share. Chevron's revenue was down 12.4% on a year-over-year basis. Equities 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. Investors of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.3%. The ex-dividend date was Tuesday, August 19th. Chevron's dividend payout ratio is presently 88.03%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. Barclays reiterated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Bank of America lifted their price objective on Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Piper Sandler lifted their price objective on Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Finally, Melius Research began coverage on Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price for the company. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Chevron currently has a consensus rating of "Hold" and an average price target of $165.05.

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of the company'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 sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, 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.

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.

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