Bryn Mawr Trust Advisors LLC Buys New Holdings in Chevron Corporation $CVX

Key Points

• Bryn Mawr Trust Advisors purchased 81,263 Chevron shares in the second quarter, valued at approximately $13.47 million. Institutional investors collectively own 72.42% of Chevron’s stock.
• Chevron reported strong quarterly results, with earnings of $6.06 per share and revenue of $67.2 billion, exceeding analyst expectations; revenue rose 57.4% year over year.
• Chevron declared a quarterly dividend of $1.78 per share, representing an annualized payout of $7.12 and a 3.6% yield, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $207.48.

Bryn Mawr Trust Advisors LLC purchased a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 81,263 shares of the oil and gas company's stock, valued at approximately $13,470,000.

A number of other institutional investors have also recently bought and sold shares of the business. Indivisible Partners acquired a new position in shares of Chevron in the fourth quarter valued at about $1,923,000. Janney Montgomery Scott LLC increased its position in Chevron by 6.8% during the first quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company's stock worth $258,853,000 after acquiring an additional 79,439 shares during the period. Galaxy Digital Inc. acquired a new stake in Chevron in the 1st quarter worth about $2,028,000. Osprey Private Wealth LLC raised its stake in Chevron by 556.4% in the 4th quarter. Osprey Private Wealth LLC now owns 9,190 shares of the oil and gas company's stock worth $1,401,000 after purchasing an additional 7,790 shares in the last quarter. Finally, World Investment Advisors boosted its holdings in Chevron by 24.2% in the 4th quarter. World Investment Advisors now owns 85,213 shares of the oil and gas company's stock valued at $12,987,000 after purchasing an additional 16,596 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 710,665 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the transaction, the director directly owned 363,711 shares in the company, valued at $70,596,305.10. The trade was a 66.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael K. Wirth sold 5,547 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total value of $1,037,289.00. Following the sale, the chief executive officer owned 26,308 shares of the company's stock, valued at $4,919,596. The trade was a 17.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,196,212 shares of company stock valued at $231,819,366. Company insiders own 0.56% of the company's stock.

Chevron Trading Up 1.2%

Shares of Chevron stock opened at $199.99 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The company has a market capitalization of $395.13 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 0.60 and a beta of 0.49. The firm's 50-day moving average price is $183.30 and its two-hundred day moving average price is $186.88.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company had revenue of $67.20 billion during the quarter, compared to analysts' expectations of $62.72 billion. During the same period in the previous year, the company earned $1.77 EPS. The business's revenue for the quarter was up 57.4% compared to the same quarter last year. On average, analysts forecast that Chevron Corporation will post 15.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron's dividend payout ratio (DPR) is 68.26%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVX. UBS Group restated a "buy" rating on shares of Chevron in a research report on Tuesday, June 23rd. Morgan Stanley dropped their price target on shares of Chevron from $214.00 to $210.00 and set an "overweight" rating for the company in a research report on Monday, June 29th. Mizuho set a $224.00 price target on Chevron in a research note on Monday, August 3rd. Royal Bank Of Canada reissued an "outperform" rating and set a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. Finally, TD Cowen raised their price objective on Chevron from $200.00 to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. Twenty analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Chevron presently has a consensus rating of "Moderate Buy" and an average price target of $207.48.

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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