Capital Investment Advisors LLC Boosts Position in Chevron Corporation $CVX

Key Points

• Capital Investment Advisors LLC increased its holdings in Chevron Corporation by 1.5%, purchasing an additional 4,841 shares, bringing its total to 324,809 shares valued at approximately $46.51 million.
• Recent insider transactions include Vice President Alana K. Knowles selling 3,978 shares and Director John B. Hess selling 375,000 shares, indicating a significant reduction in their positions.
• Chevron's recent earnings report revealed a profit of $1.77 per share, surpassing analyst expectations, despite a 12.4% drop in revenue year-over-year.

Capital Investment Advisors LLC boosted its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 1.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 324,809 shares of the oil and gas company's stock after buying an additional 4,841 shares during the quarter. Capital Investment Advisors LLC's holdings in Chevron were worth $46,509,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC raised its position in Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company's stock worth $13,214,757,000 after buying an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock worth $5,592,263,000 after buying an additional 1,574,464 shares during the last quarter. Invesco Ltd. grew its stake in shares of Chevron by 5.5% during the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company's stock worth $2,652,437,000 after purchasing an additional 827,851 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Chevron by 0.3% during 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 during the period. Finally, GQG Partners LLC acquired a new stake in shares of Chevron during the 1st quarter worth approximately $1,466,751,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction on 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 owned 1,181 shares of the company's stock, valued at $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares in the company, 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. Insiders own 0.20% of the company's stock.

Chevron Price Performance

Chevron stock opened at $156.13 on Tuesday. The company's fifty day moving average price is $156.17 and its 200 day moving average price is $149.09. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market capitalization of $269.79 billion, a P/E ratio of 20.09, a P/E/G ratio of 2.00 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $44.59 billion. During the same quarter last year, the company earned $2.55 EPS. The firm's revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

CVX has been the topic of a number of analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating and set a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. UBS Group raised their price objective on shares of Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Melius Research initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective on the stock. Finally, Mizuho dropped their price objective 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. Eleven 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 data from MarketBeat, Chevron has an average rating of "Hold" and a consensus price target of $165.05.

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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