Chevron Corporation $CVX Shares Bought by Apexium Financial LP

Key Points

• Apexium Financial LP increased its holdings in Chevron Corporation by 20.1% during the 1st quarter, now owning 18,801 shares worth approximately $3.14 million.
• Several large investors have also increased their positions in Chevron, with Jump Financial LLC notably raising its stake by 987.5%.
• Chevron announced a quarterly dividend of $1.71 per share, yielding about 4.3%, payable on September 10th.

Apexium Financial LP increased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 20.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,801 shares of the oil and gas company's stock after buying an additional 3,142 shares during the period. Apexium Financial LP's holdings in Chevron were worth $3,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd lifted its holdings in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 122 shares in the last quarter. 10Elms LLP purchased a new position in Chevron in the 4th quarter valued at $29,000. Elequin Capital LP purchased a new position in Chevron in the 1st quarter valued at $31,000. Navigoe LLC purchased a new position in Chevron in the 4th quarter valued at $33,000. Finally, IFS Advisors LLC lifted its holdings in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of research reports. Raymond James Financial restated an "outperform" rating on shares of Chevron in a report on Friday, August 1st. UBS Group raised their target price on Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Mizuho cut their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Melius Research started coverage on Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price for the company. Finally, Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $163.95.

Chevron Trading Up 1.1%

Shares of NYSE:CVX traded up $1.78 during midday trading on Wednesday, reaching $159.14. 7,480,727 shares of the company's stock were exchanged, compared to its average volume of 9,332,327. The firm's 50 day simple moving average is $151.62 and its two-hundred day simple moving average is $148.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The stock has a market cap of $274.99 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 2.35 and a beta of 0.87. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company's quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the company earned $2.55 EPS. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron's payout ratio is presently 88.03%.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by insiders.

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.