Aptus Capital Advisors LLC Purchases 227,148 Shares of Chevron Corporation $CVX

Key Points

• Aptus Capital Advisors LLC increased its holdings in Chevron by 296.7%, owning 303,704 shares worth approximately $50.8 million as of its latest SEC filing.
• Chevron reported an earnings per share (EPS) of $1.77 for the last quarter, exceeding expectations of $1.58, despite a 12.4% decline in revenue year-over-year.
• The company announced a quarterly dividend of $1.71 per share, reflecting an annualized yield of 4.4%, set to be paid on September 10th.

Aptus Capital Advisors LLC increased its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 296.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 303,704 shares of the oil and gas company's stock after acquiring an additional 227,148 shares during the period. Aptus Capital Advisors LLC's holdings in Chevron were worth $50,807,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CVX. Sage Capital Advisors llc boosted its holdings in shares of Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after buying an additional 919 shares during the last quarter. CCG Wealth Management LLC increased its holdings in Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock worth $1,060,000 after buying an additional 145 shares during the last quarter. Ignite Planners LLC raised its position in Chevron by 14.1% during the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock worth $2,060,000 after acquiring an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. lifted its stake in Chevron by 9.1% in the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after acquiring an additional 495 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after acquiring an additional 675 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

CVX traded up $0.8990 during trading on Wednesday, hitting $152.8990. The stock had a trading volume of 8,073,743 shares, compared to its average volume of 9,365,947. 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 has a 50 day moving average price of $150.60 and a 200-day moving average price of $148.56. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market cap of $264.21 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 2.33 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.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 earned $2.55 earnings per share. The company's revenue was down 12.4% on a year-over-year basis. As a group, research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Tuesday, August 19th. Chevron's dividend payout ratio is presently 88.03%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CVX shares. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. TD Cowen boosted their price target on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday, August 4th. Barclays restated an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Wells Fargo & Company reiterated an "overweight" rating and set a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Finally, Redburn Atlantic reissued a "sell" rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of "Hold" and a consensus price target of $163.95.

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.