2,763 Shares in Chevron Corporation $CVX Bought by Brian Low Financial Group LLC

Key Points

• Brian Low Financial Group LLC acquired 2,763 shares of Chevron Corporation valued at approximately $396,000 during the second quarter, highlighting institutional interest in the company.
• Certain institutional investors, including Harvest Fund Management Co. Ltd, significantly increased their holdings in Chevron, with increases ranging from 420.7% to 171.3%.
• Chevron reported $1.77 EPS for the last quarter, surpassing estimates, although revenue was down 12.4% compared to the previous year.

Brian Low Financial Group LLC bought a new stake in Chevron Corporation (NYSE:CVX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,763 shares of the oil and gas company's stock, valued at approximately $396,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd grew its holdings in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP acquired a new position in Chevron during the first quarter valued at approximately $31,000. IMG Wealth Management Inc. increased its position in shares of Chevron by 52.3% in the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company's stock worth $38,000 after acquiring an additional 91 shares in the last quarter. Cloud Capital Management LLC purchased a new position in shares of Chevron in the 1st quarter valued at $39,000. Finally, Investment Management Corp VA ADV lifted its holdings in shares of Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock valued at $39,000 after acquiring an additional 149 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 0.6%

Shares of NYSE:CVX opened at $155.63 on Friday. The firm has a market cap of $268.92 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 4.45 and a beta of 0.84. The company has a fifty day simple moving average of $156.04 and a 200 day simple moving average of $148.38. 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 Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

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

Chevron Dividend Announcement

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

Insider Buying and Selling

In related 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 transaction of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 approximately $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

CVX has been the subject of several recent research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Chevron in a report on Friday. Melius initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price target on the stock. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Barclays dropped their price objective on shares of Chevron from $160.00 to $158.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 7th. Finally, Scotiabank lifted their price target on shares of Chevron from $160.00 to $165.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Chevron presently has an average rating of "Hold" and a consensus price target of $165.25.

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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