8,106 Shares in Chevron Corporation $CVX Bought by Demars Financial Group LLC

Key Points

• Demars Financial Group LLC acquired 8,106 shares of Chevron Corporation, valued at approximately $1,161,000, making it the company's 21st largest holding.
• Chevron's stock has received mixed ratings from analysts, with a consensus rating of "Hold" and a price target of $165.25.
• Chevron declared a quarterly dividend of $1.71 per share, with an annualized dividend yield of 4.5%, reflecting a dividend payout ratio of 88.03%.

Demars 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 Form 13F filing with the SEC. The firm bought 8,106 shares of the oil and gas company's stock, valued at approximately $1,161,000. Chevron comprises about 0.4% of Demars Financial Group LLC's holdings, making the stock its 21st biggest holding.

Other large investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd boosted its stake 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 acquiring an additional 122 shares during the period. Elequin Capital LP bought a new position in shares of Chevron during the first quarter worth approximately $31,000. Cloud Capital Management LLC bought a new stake in shares of Chevron in the first quarter valued at approximately $39,000. Investment Management Corp VA ADV grew its position in Chevron by 171.3% during the first 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 in the last quarter. Finally, GFG Capital LLC acquired a new position in Chevron in the 2nd quarter valued at $42,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. Wells Fargo & Company assumed coverage on Chevron in a research report on Friday. They issued an "overweight" rating and a $190.00 price target on the stock. Barclays cut their price target on shares of Chevron from $160.00 to $158.00 and set an "equal weight" rating for the company in a report on Tuesday, October 7th. TD Cowen lifted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research note on Monday, August 4th. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Finally, Piper Sandler lifted their price target on Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus price target of $165.25.

Insiders Place Their Bets

In related news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company's stock in a transaction dated 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 sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Chevron Trading Up 0.9%

NYSE CVX opened at $153.12 on Monday. The company has a market cap of $264.58 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The business's fifty day moving average is $156.03 and its 200 day moving average is $147.96.

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 firm had revenue of $44.82 billion for 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 business's revenue for the quarter was down 12.4% on a year-over-year basis. During the same period last year, the firm posted $2.55 earnings per share. As a group, sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron's dividend payout ratio (DPR) is presently 88.03%.

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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