Callan Family Office LLC Raises Stake in Chevron Corporation $CVX

Key Points

• Callan Family Office LLC increased its stake in Chevron Corporation by 82.0% during the second quarter, holding 64,898 shares worth approximately $9.3 million as of the latest SEC filing.
• Several equity analysts have raised their price targets for Chevron, with UBS setting a target of $197.00 and Bank of America at $185.00, indicating a generally positive outlook from analysts.
• Chemaron recently declared a quarterly dividend of $1.71, resulting in an annualized dividend yield of 4.5%, despite a payout ratio of 88.03%.

Callan Family Office LLC lifted its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 82.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,898 shares of the oil and gas company's stock after purchasing an additional 29,234 shares during the quarter. Callan Family Office LLC's holdings in Chevron were worth $9,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Court Place Advisors LLC grew its holdings in shares of Chevron by 3.2% during the 2nd quarter. Court Place Advisors LLC now owns 7,518 shares of the oil and gas company's stock worth $1,077,000 after purchasing an additional 232 shares during the period. Grand Wealth Management LLC purchased a new position in shares of Chevron during the 2nd quarter worth $290,000. Rice Partnership LLC grew its holdings in shares of Chevron by 18.0% during the 2nd quarter. Rice Partnership LLC now owns 11,353 shares of the oil and gas company's stock worth $1,626,000 after purchasing an additional 1,733 shares during the period. GFG Capital LLC purchased a new position in shares of Chevron during the 2nd quarter worth $42,000. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of Chevron by 4.1% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company's stock worth $260,000 after purchasing an additional 71 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on CVX shares. Evercore ISI restated an "outperform" rating and set a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. UBS Group raised their target price on Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Melius Research assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target on the stock. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Finally, Bank of America raised their price target on Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $165.40.

Chevron Stock Down 1.4%

Chevron stock opened at $151.63 on Friday. The stock's 50 day moving average price is $156.15 and its 200 day moving average price is $148.79. The company has a market cap of $262.02 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.98 and a beta of 0.84. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

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 the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron's revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.55 earnings per share. On average, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

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. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's payout ratio is 88.03%.

Insiders Place Their Bets

In related news, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of the company's stock in a transaction on 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 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 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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