73,684 Shares in Chevron Corporation $CVX Acquired by Focus Partners Advisor Solutions LLC

Key Points

• Focus Partners Advisor Solutions acquired 73,684 Chevron shares in the second quarter, valued at approximately $12.2 million. Institutional investors collectively own 72.42% of Chevron’s stock.
• Chevron reported stronger-than-expected quarterly results, with earnings per share of $6.06 and revenue of $67.2 billion, up 57.4% year over year.
• Chevron announced a quarterly dividend of $1.78 per share, equivalent to an annualized $7.12 dividend and a 3.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $207.48.

Focus Partners Advisor Solutions LLC bought a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 73,684 shares of the oil and gas company's stock, valued at approximately $12,214,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. ABN AMRO Bank N.V. acquired a new position in shares of Chevron in the second quarter valued at approximately $852,000. Summit Asset Management LLC purchased a new position in shares of Chevron in the 2nd quarter valued at $899,000. Kelleher Financial Advisors acquired a new stake in shares of Chevron during the second quarter worth about $237,000. EJMK Ventures LLC acquired a new position in Chevron during the second quarter worth approximately $614,000. Finally, Sutton Place Investors LLC acquired a new position in shares of Chevron in the 2nd quarter valued at $323,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

NYSE:CVX opened at $199.99 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The stock has a market cap of $395.13 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 0.61 and a beta of 0.49. The firm's fifty day simple moving average is $183.30 and its 200-day simple moving average is $186.88.

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

Chevron Announces Dividend

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

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent research reports. Jefferies Financial Group reissued a "buy" rating and issued a $216.00 target price on shares of Chevron in a report on Friday, July 10th. Sanford C. Bernstein lifted their target price on shares of Chevron from $204.00 to $209.00 and gave the company a "market perform" rating in a report on Monday, August 3rd. Morgan Stanley dropped their price target on shares of Chevron from $214.00 to $210.00 and set an "overweight" rating on the stock in a research note on Monday, June 29th. Barclays increased their price target on shares of Chevron from $213.00 to $216.00 and gave the stock an "equal weight" rating in a report on Monday, August 3rd. Finally, Wall Street Zen raised Chevron from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Twenty analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $207.48.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 710,665 shares of Chevron stock in a transaction that occurred on 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 sale, the director directly owned 363,711 shares in the company, valued at approximately $70,596,305.10. This trade represents a 66.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael K. Wirth sold 5,547 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total value of $1,037,289.00. Following the sale, the chief executive officer directly owned 26,308 shares in the company, valued at $4,919,596. This trade represents a 17.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,196,212 shares of company stock valued at $231,819,366. 0.56% of the stock is currently owned by corporate insiders.

Chevron Profile

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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