Chevron Corporation $CVX Stock Holdings Increased by Capital Advantage Inc.

Key Points

• Capital Advantage Inc. increased its stake in Chevron Corporation by 120.1%, acquiring an additional 12,995 shares in the second quarter, bringing its total holdings to $3.41 million.
• Chevron reported earnings of $1.77 per share for the latest quarter, exceeding analysts' expectations of $1.58, despite a 12.4% year-over-year revenue decline.
• The company's latest quarterly dividend was $1.71 per share, with a 4.4% dividend yield, and a payout ratio of 88.03%.

Capital Advantage Inc. boosted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 120.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,819 shares of the oil and gas company's stock after acquiring an additional 12,995 shares during the period. Capital Advantage Inc.'s holdings in Chevron were worth $3,411,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CVX. Kingstone Capital Partners Texas LLC boosted its holdings in Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company's stock valued at $13,214,757,000 after acquiring an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock valued at $5,592,263,000 after acquiring an additional 1,574,464 shares during the period. Invesco Ltd. grew its holdings in Chevron by 5.5% during the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company's stock valued at $2,652,437,000 after buying an additional 827,851 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Chevron by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company's stock worth $2,054,513,000 after purchasing an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC purchased a new stake in shares of Chevron in the 1st quarter worth about $1,466,751,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

CVX traded down $2.73 during trading on Friday, reaching $156.11. The company's stock had a trading volume of 16,709,599 shares, compared to its average volume of 7,668,525. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $155.24 and a two-hundred day simple moving average of $148.96. The company has a market cap of $269.76 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 1.96 and a beta of 0.90.

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

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's dividend payout ratio is 88.03%.

Insiders Place Their Bets

In other Chevron 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 sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction 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 directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CVX. Mizuho cut their price target on shares of Chevron from $192.00 to $191.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. Evercore ISI restated an "outperform" rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Scotiabank reissued a "sector perform" rating and issued a $160.00 target price (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, Bank of America raised their target price on Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $165.05.

About Chevron

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.