19,706 Shares in Chevron Corporation $CVX Bought by Northstar Financial Companies Inc.

Key Points

• Northstar Financial Companies acquired 19,706 Chevron shares worth approximately $3.27 million, making Chevron its 11th-largest holding and representing about 2.2% of its portfolio. Institutional investors collectively own 72.42% of Chevron.
• Chevron insiders have been significant sellers, with CEO Michael Wirth and Director John Hess selling shares; insiders sold approximately 1.2 million shares worth $231.8 million over the past 90 days.
• Chevron reported stronger-than-expected quarterly results, with $6.06 in EPS and $67.2 billion in revenue, while analysts maintain a “Moderate Buy” consensus and an average price target of $207.48. The company also declared a quarterly dividend of $1.78 per share, yielding about 3.6% annually.

Northstar Financial Companies Inc. acquired a new stake in Chevron Corporation (NYSE:CVX - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 19,706 shares of the oil and gas company's stock, valued at approximately $3,266,000. Chevron makes up about 2.2% of Northstar Financial Companies Inc.'s portfolio, making the stock its 11th biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Advisory LLC raised its stake in shares of Chevron by 0.9% in the 1st quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company's stock valued at $1,164,000 after purchasing an additional 52 shares during the period. Compton Financial Group LLC boosted its position in shares of Chevron by 1.9% during the first quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company's stock worth $609,000 after buying an additional 56 shares during the period. Quantum Portfolio Management LLC grew its holdings in shares of Chevron by 2.7% during the first quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company's stock worth $435,000 after buying an additional 56 shares in the last quarter. Wealthspire Retirement LLC grew its holdings in shares of Chevron by 0.9% during the first quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company's stock worth $1,351,000 after buying an additional 56 shares in the last quarter. Finally, D.B. Root & Company LLC raised its position in Chevron by 1.0% in the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock valued at $846,000 after buying an additional 57 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 5,547 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total value of $1,037,289.00. Following the completion of the sale, the chief executive officer owned 26,308 shares in the company, valued at $4,919,596. This trade represents a 17.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John B. Hess sold 710,665 shares of Chevron stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the transaction, the director directly owned 363,711 shares of the company's stock, valued at approximately $70,596,305.10. This trade represents a 66.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,196,212 shares of company stock worth $231,819,366. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CVX shares. Bank of America boosted their target price on Chevron from $210.00 to $227.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. TD Cowen lifted their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. Jefferies Financial Group reiterated a "buy" rating and issued a $216.00 price objective on shares of Chevron in a report on Friday, July 10th. Morgan Stanley reduced their target price on shares of Chevron from $214.00 to $210.00 and set an "overweight" rating for the company in a report on Monday, June 29th. Finally, Zacks Research downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 8th. Twenty investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Chevron currently has a consensus rating of "Moderate Buy" and an average price target of $207.48.

Chevron Stock Down 0.0%

CVX stock opened at $199.99 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average price of $183.30 and a two-hundred day moving average price of $187.01. The company has a market cap of $395.13 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 0.61 and a beta of 0.49. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The firm had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same quarter in the previous year, the firm earned $1.77 EPS. The business's quarterly revenue was up 57.4% on a year-over-year basis. Analysts anticipate that Chevron Corporation will post 15.86 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Wednesday, August 19th. Chevron's payout ratio is presently 68.26%.

About Chevron

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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