CapWealth Advisors LLC Purchases 25,881 Shares of Chevron Corporation $CVX

Key Points

• CapWealth Advisors LLC increased its holdings in Chevron Corporation by 14.8%, bringing its total shares owned to 200,330, or about 2.8% of its portfolio, valued at approximately $28.7 million.
• A significant number of institutional investors and hedge funds, including Greenfield Savings Bank and Mowery & Schoenfeld Wealth Management LLC, have also modified their positions in Chevron stock.
• Chevron recently paid a quarterly dividend of $1.71, resulting in an annualized dividend yield of 4.5%, with a payout ratio of 88.03%.

CapWealth Advisors LLC grew its position in Chevron Corporation (NYSE:CVX - Free Report) by 14.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 200,330 shares of the oil and gas company's stock after purchasing an additional 25,881 shares during the period. Chevron comprises about 2.8% of CapWealth Advisors LLC's portfolio, making the stock its 6th largest position. CapWealth Advisors LLC's holdings in Chevron were worth $28,685,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Greenfield Savings Bank raised its holdings in shares of Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company's stock worth $1,663,000 after acquiring an additional 68 shares during the period. Atwater Malick LLC raised its holdings in shares of Chevron by 2.4% during the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company's stock worth $413,000 after acquiring an additional 68 shares during the period. Hubbell Strickland Wealth Management LLC raised its holdings in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company's stock worth $1,443,000 after acquiring an additional 68 shares during the period. Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of Chevron by 10.3% during the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company's stock worth $107,000 after acquiring an additional 70 shares during the period. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of Chevron by 4.1% during the second quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company's stock worth $260,000 after acquiring an additional 71 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The shares were 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 owned 1,181 shares of the company's stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, 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. Company insiders own 0.21% of the company's stock.

Analyst Ratings Changes

CVX has been the topic of a number of research analyst reports. Evercore ISI restated an "outperform" rating and set a $180.00 price objective on shares of Chevron in a report on Thursday, July 31st. Melius Research started coverage on shares of Chevron in a report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective on the stock. Mizuho lowered 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. Scotiabank lifted their price target on shares of Chevron from $160.00 to $165.00 and gave the company a "sector perform" rating in a research note on Thursday, October 9th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $165.25.

Chevron Stock Up 0.9%

Shares of CVX stock opened at $153.12 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm's fifty day moving average price is $156.03 and its two-hundred day moving average price is $148.15. The firm has a market capitalization of $264.58 billion, a P/E ratio of 19.71, a PEG ratio of 2.00 and a beta of 0.84.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 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 company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter last year, the firm posted $2.55 EPS. The company's quarterly revenue was down 12.4% on a year-over-year basis. On average, equities analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given 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 dividend payout ratio (DPR) is 88.03%.

Chevron 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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