2,084 Shares in Chevron Corporation $CVX Purchased by Driehaus Capital Management LLC

Driehaus Capital Management LLC purchased a new position in Chevron Corporation (NYSE:CVX - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,084 shares of the oil and gas company's stock, valued at approximately $349,000.

Several other institutional investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC lifted its stake in Chevron by 0.3% in the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock worth $4,091,000 after purchasing an additional 71 shares during the last quarter. GDS Wealth Management lifted its stake in Chevron by 4.4% in the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company's stock worth $285,000 after purchasing an additional 72 shares during the last quarter. AIMZ Investment Advisors LLC lifted its stake in Chevron by 4.2% in the first quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company's stock worth $298,000 after purchasing an additional 72 shares during the last quarter. Clayton Financial Group LLC lifted its stake in Chevron by 4.6% in the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock worth $285,000 after purchasing an additional 75 shares during the last quarter. Finally, Gill Capital Partners LLC lifted its stake in Chevron by 4.9% in the first quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company's stock worth $271,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

NYSE CVX opened at $160.64 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The firm's 50 day moving average price is $152.29 and its 200-day moving average price is $148.73. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a market cap of $277.59 billion, a PE ratio of 20.67, a P/E/G ratio of 2.38 and a beta of 0.90.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same period last year, the firm earned $2.55 earnings per share. The company's quarterly revenue was down 12.4% on a year-over-year basis. Sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. Chevron's dividend payout ratio (DPR) is currently 88.03%.

Insider Activity

In other news, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Mizuho decreased their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Morgan Stanley initiated coverage on shares of Chevron in a research report on Monday, August 4th. They set an "overweight" rating and a $174.00 target price on the stock. TD Cowen raised their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday, August 4th. Finally, Evercore ISI reaffirmed an "outperform" rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $163.95.

Chevron Profile

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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