Advisors Management Group Inc. ADV Raises Stock Position in Chevron Corporation $CVX

Key Points

• Advisors Management Group Inc. increased its position in Chevron by 100.3% during the 2nd quarter, owning 43,343 shares valued at approximately $6.2 million.
• Chevron's recent quarterly earnings report showed an EPS of $1.77, exceeding estimates, but revenue fell 12.4% year-over-year.
• The company declared a quarterly dividend of $1.71 per share, with an annualized yield of 4.3% and a payout ratio of 88.03%.

Advisors Management Group Inc. ADV lifted its position in Chevron Corporation (NYSE:CVX - Free Report) by 100.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,343 shares of the oil and gas company's stock after acquiring an additional 21,708 shares during the quarter. Chevron accounts for approximately 1.2% of Advisors Management Group Inc. ADV's investment portfolio, making the stock its 23rd largest holding. Advisors Management Group Inc. ADV's holdings in Chevron were worth $6,206,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC increased its holdings in Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company's stock worth $13,214,757,000 after buying an additional 83,702,101 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock valued at $5,592,263,000 after buying an additional 1,574,464 shares during the last quarter. Invesco Ltd. lifted its holdings in Chevron by 5.5% in the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company's stock valued at $2,652,437,000 after acquiring an additional 827,851 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Chevron by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company's stock worth $2,054,513,000 after buying an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC acquired a new stake in shares of Chevron during the 1st quarter valued at about $1,466,751,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of Chevron stock opened at $160.13 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The business has a 50-day simple moving average of $156.04 and a 200-day simple moving average of $149.15. The company has a market cap of $276.70 billion, a PE ratio of 20.61, a P/E/G ratio of 2.01 and a beta of 0.90. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during 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%. Chevron's revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.55 earnings per share. On average, equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued 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 4.3%. Chevron's dividend payout ratio (DPR) is currently 88.03%.

Insiders Place Their Bets

In other news, Director John B. Hess sold 375,000 shares of the firm's 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 sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the vice president directly owned 1,181 shares of the company's stock, 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. Company insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CVX shares. Mizuho decreased their price target on shares of Chevron from $192.00 to $191.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. Melius began coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price objective for the company. Raymond James Financial restated an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. Evercore ISI reiterated an "outperform" rating and issued a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Finally, Scotiabank restated a "sector perform" rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $165.05.

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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