Applied Capital LLC FL Takes Position in Chevron Corporation $CVX

Key Points

• Applied Capital LLC FL acquired a new position in Chemron Corporation (NYSE:CVX) by purchasing 2,555 shares valued at approximately $366,000 in the second quarter.
• Chevron reported earnings of $1.77 per share for the last quarter, exceeding analyst expectations of $1.58, despite a year-over-year revenue decline of 12.4%.
• The company declared a quarterly dividend of $1.71, representing an annualized dividend yield of 4.6%, with a payout ratio of 88.03%.

Applied Capital LLC FL purchased a new position in Chevron Corporation (NYSE:CVX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,555 shares of the oil and gas company's stock, valued at approximately $366,000.

Several other large investors also recently added to or reduced their stakes in CVX. CCG Wealth Management LLC raised its stake in shares of Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after acquiring an additional 145 shares during the period. Ignite Planners LLC grew its holdings in Chevron by 14.1% during the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after purchasing an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. raised its position in Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock worth $993,000 after purchasing an additional 495 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock worth $24,075,000 after purchasing an additional 675 shares during the last quarter. Finally, Capital Advisors Inc. OK boosted its position in shares of Chevron by 0.3% during the first quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company's stock valued at $95,231,000 after buying an additional 1,755 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 1.7%

NYSE:CVX opened at $149.11 on Friday. 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 firm has a market cap of $257.66 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84. The company has a 50-day moving average of $156.10 and a 200 day moving average of $148.67. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. During the same quarter in the prior year, the company earned $2.55 EPS. The company's revenue was down 12.4% compared to the same quarter last year. As a group, research analysts anticipate 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. Stockholders of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. Chevron's dividend payout ratio (DPR) is currently 88.03%.

Analysts Set New Price Targets

CVX has been the subject of a number of recent analyst reports. Mizuho dropped their price objective on Chevron from $192.00 to $191.00 and set an "outperform" rating for the company in a report on Monday, September 15th. Wells Fargo & Company reiterated an "overweight" rating and set a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Bank of America raised their price target on shares of Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Finally, Barclays dropped their target price on shares of Chevron from $160.00 to $158.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Chevron has an average rating of "Hold" and a consensus target price of $165.40.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the business'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 transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president directly owned 1,181 shares of the company's stock, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

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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