Ameritas Advisory Services LLC Acquires 18,324 Shares of Chevron Corporation $CVX

Key Points

• Ameritas Advisory Services increased its Chevron stake by 67.9% in the second quarter, buying 18,324 additional shares for a total holding of 45,298 shares valued at approximately $7.5 million. Institutional investors collectively own 72.42% of Chevron.
• Analysts maintain a generally positive view of Chevron, with a consensus rating of “Moderate Buy” and an average price target of $211.35. Recent targets range as high as $235, although Zacks downgraded the stock to “Hold.”
• Chevron reported quarterly earnings of $6.06 per share, exceeding expectations, while revenue rose 57.4% year over year to $67.2 billion. The company also declared a quarterly dividend of $1.78 per share, representing a 3.4% annualized yield.

Ameritas Advisory Services LLC raised its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 67.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,298 shares of the oil and gas company's stock after purchasing an additional 18,324 shares during the period. Ameritas Advisory Services LLC's holdings in Chevron were worth $7,509,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. First PREMIER Bank lifted its stake in Chevron by 0.8% in the 2nd quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company's stock valued at $1,070,000 after purchasing an additional 50 shares during the last quarter. Vanguard Capital Wealth Advisors grew its stake in shares of Chevron by 1.8% during the second quarter. Vanguard Capital Wealth Advisors now owns 2,818 shares of the oil and gas company's stock worth $467,000 after buying an additional 50 shares during the last quarter. Cornerstone Advisory LLC grew its stake in shares of Chevron by 0.9% during the first quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company's stock worth $1,164,000 after buying an additional 52 shares during the last quarter. Compton Financial Group LLC increased its holdings in shares of Chevron by 1.9% during the first quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company's stock worth $609,000 after buying an additional 56 shares in the last quarter. Finally, Quantum Portfolio Management LLC increased its holdings in shares of Chevron by 2.7% during the first quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company's stock worth $435,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Mizuho set a $224.00 target price on Chevron in a research report on Monday, August 3rd. Wells Fargo & Company upped their price objective on Chevron from $226.00 to $230.00 and gave the company an "overweight" rating in a research note on Thursday. Sanford C. Bernstein raised their price objective 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. Zacks Research downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 8th. Finally, BMO Capital Markets increased their price target on Chevron from $210.00 to $235.00 and gave the company an "outperform" rating in a research note on Thursday. Twenty equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $211.35.

Insider Transactions at Chevron

In other news, insider Andrew Walz sold 16,800 shares of Chevron stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the transaction, the insider directly owned 14 shares in the company, valued at $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Hess sold 710,665 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the sale, the director directly owned 363,711 shares of the company's stock, valued at approximately $70,596,305.10. The trade was a 66.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,152,582 shares of company stock valued at $225,853,661 in the last 90 days. 0.56% of the stock is currently owned by company insiders.

Chevron Stock Down 0.1%

Chevron stock opened at $208.48 on Tuesday. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $411.91 billion, a PE ratio of 19.99, a PEG ratio of 0.61 and a beta of 0.50. The firm's fifty day moving average is $191.90 and its 200 day moving average is $190.01.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business's quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.77 earnings per share. As a group, sell-side analysts predict that Chevron Corporation will post 16.51 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron's dividend payout ratio is presently 68.26%.

Chevron Company 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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