Chevron Corporation $CVX Shares Acquired by RB Capital Management LLC

Key Points

• RB Capital Management LLC increased its stake in Chevron Corporation by 6.3% during the second quarter, holding 31,654 shares valued at approximately $4.5 million.
• Chevron recently declared a quarterly dividend of $1.71, representing an annualized dividend of $6.84 with a yield of 4.4%.
• Analysts have varied opinions on Chevron, with 11 analysts rating it as a Buy, 8 as a Hold, and 3 as a Sell, while the stock has a consensus price target of $164.80.

RB Capital Management LLC raised its position in Chevron Corporation (NYSE:CVX - Free Report) by 6.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,654 shares of the oil and gas company's stock after acquiring an additional 1,862 shares during the quarter. Chevron makes up 1.0% of RB Capital Management LLC's investment portfolio, making the stock its 22nd largest position. RB Capital Management LLC's holdings in Chevron were worth $4,533,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CVX. Harvest Fund Management Co. Ltd increased its position in shares of Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 122 shares during the period. 10Elms LLP purchased a new position in shares of Chevron in the fourth quarter valued at about $29,000. Elequin Capital LP purchased a new position in shares of Chevron in the first quarter valued at about $31,000. IFS Advisors LLC increased its position in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after acquiring an additional 116 shares during the period. Finally, Cloud Capital Management LLC purchased a new position in shares of Chevron in the first quarter valued at about $39,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Down 0.6%

NYSE CVX traded down $1.02 during trading on Friday, reaching $157.23. 5,545,397 shares of the company's stock traded hands, compared to its average volume of 7,652,500. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The firm has a market cap of $271.69 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 1.98 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The company's 50 day simple moving average is $154.67 and its two-hundred day simple moving average is $148.85.

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 for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company's revenue was down 12.4% compared to the same quarter last year. During the same period last year, the business earned $2.55 EPS. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred 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 sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday. Melius Research assumed coverage on shares of Chevron in a report on Wednesday, August 20th. They set a "hold" rating and a $155.00 target price for the company. Barclays reiterated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. UBS Group upped their price target on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $164.80.

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.