Chevron Corporation $CVX Shares Bought by Bogart Wealth LLC

Key Points

• Bogart Wealth LLC increased its stake in Chevron Corporation by 5.1% during Q2, now holding 86,435 shares valued at approximately $12.38 million.
• Analyst ratings for Chevron are mixed, with 11 analysts rating it as a Buy, while 9 rate it as a Hold and 3 as a Sell, and a consensus price target of $165.25.
• The company's recent quarterly dividend of $1.71 reflects a yield of 4.5%, with a payout ratio of 88.03%.

Bogart Wealth LLC grew its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 5.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,435 shares of the oil and gas company's stock after purchasing an additional 4,190 shares during the period. Bogart Wealth LLC's holdings in Chevron were worth $12,377,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Harvest Fund Management Co. Ltd grew its stake in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 122 shares in the last quarter. Elequin Capital LP purchased a new position in shares of Chevron during the 1st quarter valued at approximately $31,000. Cloud Capital Management LLC acquired a new stake in shares of Chevron during the first quarter worth approximately $39,000. Investment Management Corp VA ADV grew its position in shares of Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock worth $39,000 after buying an additional 149 shares in the last quarter. Finally, GFG Capital LLC bought a new stake in shares of Chevron in the second quarter worth $42,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on CVX shares. Scotiabank raised their price objective on shares of Chevron from $160.00 to $165.00 and gave the stock a "sector perform" rating in a report on Thursday, October 9th. Piper Sandler lifted their price target on Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a report on Friday, July 18th. TD Cowen increased their target price on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a report on Monday, August 4th. Finally, Melius started coverage on Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target for the company. Eleven research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $165.25.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following 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 disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Chevron Trading Up 0.9%

Shares of NYSE CVX opened at $153.12 on Monday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a market cap of $264.58 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The stock's 50 day simple moving average is $156.03 and its 200 day simple moving average is $147.96.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period last year, the company earned $2.55 earnings per share. The firm's revenue for the quarter was down 12.4% on a year-over-year basis. Equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron's dividend payout ratio is 88.03%.

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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