Chevron Corporation $CVX Shares Bought by Autumn Glory Partners LLC

Key Points

• Autumn Glory Partners LLC increased its stake in Chevron Corporation by 44.8%, holding 16,059 shares valued at approximately $2.29 million.
• Chevron recently announced a quarterly dividend of $1.71, reflecting an annualized yield of 4.5% and a payout ratio of 88.03%.
• Chevron's stock is currently trading around $153.59, with a 12-month high of $168.96 and a consensus target price of $165.05 from analysts.

Autumn Glory Partners LLC grew its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 44.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,059 shares of the oil and gas company's stock after acquiring an additional 4,971 shares during the period. Chevron comprises about 1.1% of Autumn Glory Partners LLC's holdings, making the stock its 26th biggest position. Autumn Glory Partners LLC's holdings in Chevron were worth $2,299,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Greenfield Savings Bank increased its stake in shares of Chevron by 0.6% during the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company's stock worth $1,663,000 after purchasing an additional 68 shares in the last quarter. Atwater Malick LLC raised its position in shares of Chevron by 2.4% during the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company's stock worth $413,000 after purchasing an additional 68 shares during the last quarter. Hubbell Strickland Wealth Management LLC raised its position in shares of Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company's stock worth $1,443,000 after purchasing an additional 68 shares during the last quarter. GDS Wealth Management raised its position in shares of Chevron by 4.4% during the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company's stock worth $285,000 after purchasing an additional 72 shares during the last quarter. Finally, AIMZ Investment Advisors LLC grew its stake in Chevron by 4.2% in the 1st quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company's stock worth $298,000 after acquiring an additional 72 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX stock opened at $153.59 on Monday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. 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 firm has a market capitalization of $265.40 billion, a P/E ratio of 19.77, a P/E/G ratio of 1.99 and a beta of 0.84. The company's fifty day moving average price is $156.23 and its two-hundred day moving average price is $148.87.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping 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 analyst estimates of $44.59 billion. During the same quarter in the previous year, the business posted $2.55 EPS. The firm's revenue was down 12.4% compared to the same quarter last year. On average, research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid 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 was Tuesday, August 19th. Chevron's dividend payout ratio is 88.03%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the company's 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 sale, the vice president 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company's 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 sale, the director 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. Corporate insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

CVX has been the subject of several recent analyst reports. UBS Group lifted their target price 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. Morgan Stanley began coverage on shares of Chevron in a research report on Monday, August 4th. They set an "overweight" rating and a $174.00 price target for the company. Bank of America upped their price target on shares of Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. TD Cowen upped their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday, August 4th. Finally, Evercore ISI reaffirmed an "outperform" rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average 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.

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