2,293 Shares in Chevron Corporation $CVX Bought by Capital CS Group LLC

Key Points

• Capital CS Group LLC has acquired 2,293 shares of Chevron Corporation, valued at approximately $328,000, indicating growing interest from institutional investors.
• Several hedge funds have significantly increased their stakes in Chevron, with Harvest Fund Management raising theirs by 420.7% in the first quarter.
• Chevron recently raised its quarterly dividend to $1.71 per share, reflecting a strong annualized yield of 4.4%.

Capital CS Group LLC acquired a new position in Chevron Corporation (NYSE:CVX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,293 shares of the oil and gas company's stock, valued at approximately $328,000.

A number of other hedge funds have also recently modified their holdings of CVX. Harvest Fund Management Co. Ltd increased its stake in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 122 shares in the last quarter. Elequin Capital LP bought a new position in shares of Chevron during the first quarter valued at approximately $31,000. IFS Advisors LLC lifted its holdings in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares during the last quarter. Cloud Capital Management LLC bought a new stake in shares of Chevron in the 1st quarter worth approximately $39,000. Finally, Investment Management Corp VA ADV grew its stake in shares of Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock worth $39,000 after buying an additional 149 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CVX shares. 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 note on Wednesday, September 10th. Raymond James Financial reaffirmed an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. Scotiabank reissued a "sector perform" rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Evercore ISI restated an "outperform" rating and set a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Finally, 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. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $165.05.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated 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 sale, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the business'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 completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Chevron Trading Down 1.7%

Shares of NYSE:CVX opened at $156.11 on Monday. The stock has a 50 day moving average of $155.24 and a 200 day moving average of $148.96. The company has a market cap of $269.76 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 1.96 and a beta of 0.90. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly 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 business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company's revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.55 earnings per share. As a group, equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron's payout ratio is presently 88.03%.

Chevron Company 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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