Divergent Planning LLC bought a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 33,302 shares of the oil and gas company's stock, valued at approximately $4,769,000. Chevron comprises approximately 0.9% of Divergent Planning LLC's holdings, making the stock its 28th largest position.
Other institutional investors and hedge funds have also modified their holdings of the company. Greenfield Savings Bank lifted its position in Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company's stock valued at $1,663,000 after purchasing an additional 68 shares in the last quarter. Atwater Malick LLC increased its position in Chevron by 2.4% in the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company's stock worth $413,000 after buying an additional 68 shares in the last quarter. Hubbell Strickland Wealth Management LLC raised its stake in shares of Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company's stock worth $1,443,000 after buying an additional 68 shares during the period. Mowery & Schoenfeld Wealth Management LLC lifted its position in shares of Chevron by 10.3% during the 2nd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company's stock valued at $107,000 after buying an additional 70 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in shares of Chevron by 4.1% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company's stock valued at $260,000 after buying an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.
Analyst Upgrades and Downgrades
CVX has been the topic of a number of recent analyst reports. Wells Fargo & Company started coverage on shares of Chevron in a research note on Friday. They set an "overweight" rating and a $190.00 target price on the stock. Piper Sandler raised their price objective on shares of Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Raymond James Financial restated an "outperform" rating and set a $160.00 target price (down previously from $170.00) on shares of Chevron in a research note on Friday. Morgan Stanley initiated coverage on shares of Chevron in a report on Monday, August 4th. They issued an "overweight" rating and a $174.00 target price for the company. Finally, UBS Group raised their price target on Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $165.25.
Get Our Latest Research Report on CVX
Insider Buying and Selling at Chevron
In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on Friday, August 22nd. The shares were 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 of the company's stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.
Chevron Trading Up 0.9%
Shares of Chevron stock opened at $154.53 on Tuesday. The firm has a market cap of $267.02 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 2.02 and a beta of 0.84. The business has a 50-day moving average price of $156.05 and a 200-day moving average price of $148.04. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.
Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 9.90% and a net margin of 7.02%.The firm's revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.55 earnings per share. Equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.
Chevron Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron's dividend payout ratio (DPR) is 88.03%.
Chevron Profile
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Free Report)
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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