AG Campbell Advisory LLC Purchases New Position in Chevron Corporation $CVX

Key Points

• AG Campbell Advisory LLC initiated a new position in Chevron during the fourth quarter, buying 9,539 shares valued at about $1.45 million. The stake represents roughly 0.5% of the firm’s holdings.
• Wall Street sentiment on Chevron remains broadly positive, with 18 Buy ratings, six Hold ratings, and one Sell rating. The consensus view is a “Moderate Buy” with an average price target of $205.70.
• Chevron recently reported earnings per share of $1.41, beating analysts’ estimates, but revenue of $47.56 billion came in below expectations. The company also paid a quarterly dividend of $1.78 per share, implying a 4.1% yield.

AG Campbell Advisory LLC bought a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,539 shares of the oil and gas company's stock, valued at approximately $1,454,000. Chevron comprises about 0.5% of AG Campbell Advisory LLC's holdings, making the stock its 20th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. United Bank lifted its holdings in Chevron by 7.7% during the second quarter. United Bank now owns 11,079 shares of the oil and gas company's stock worth $1,586,000 after acquiring an additional 796 shares during the period. Schnieders Capital Management LLC. increased its stake in shares of Chevron by 9.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock worth $7,280,000 after purchasing an additional 4,214 shares during the last quarter. BNP Paribas increased its position in Chevron by 76.4% in the second quarter. BNP Paribas now owns 441 shares of the oil and gas company's stock worth $63,000 after buying an additional 191 shares during the last quarter. Osterweis Capital Management Inc. increased its position in Chevron by 678.9% in the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company's stock worth $195,000 after buying an additional 1,188 shares during the last quarter. Finally, Main Street Financial Solutions LLC raised its stake in shares of Chevron by 3.6% in the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company's stock valued at $2,299,000 after buying an additional 553 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Sanford C. Bernstein lowered their price objective on Chevron from $216.00 to $204.00 and set a "market perform" rating on the stock in a research note on Monday, May 11th. Bank of America increased their target price on shares of Chevron from $188.00 to $206.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Wells Fargo & Company lifted their target price on shares of Chevron from $204.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. HSBC raised shares of Chevron from a "hold" rating to a "buy" rating and set a $215.00 price objective for the company in a report on Friday, March 20th. Finally, BNP Paribas Exane raised Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price target for the company in a report on Friday, April 17th. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of "Moderate Buy" and a consensus target price of $205.70.

Chevron Price Performance

Shares of Chevron stock opened at $173.51 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $345.56 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 0.57 and a beta of 0.48. The business's 50-day moving average price is $186.63 and its 200-day moving average price is $179.01. Chevron Corporation has a 12 month low of $142.40 and a 12 month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion for the quarter, compared to analysts' expectations of $51.86 billion. During the same quarter last year, the company earned $2.18 EPS. The firm's revenue was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were paid a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. Chevron's dividend payout ratio (DPR) is presently 123.40%.

Insider Buying and Selling

In related news, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction on Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the sale, the insider owned 8,638 shares in the company, valued at $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Hess sold 380,000 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 615,200 shares of company stock valued at $118,022,760. 0.56% of the stock is owned by corporate insiders.

About Chevron

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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