Chevron Corporation $CVX Shares Bought by Capital Advisors Inc. OK

Key Points

• Capital Advisors Inc. OK increased its holdings in Chevron Corporation by 2.0% during the second quarter, now owning 580,675 shares valued at approximately $83 million.
• Institutional investors collectively own 72.42% of Chevron's stock, with significant purchases made by Kingstone Capital Partners and other firms in recent quarters.
• Chevron declared a quarterly dividend of $1.71 per share, equating to an annual dividend yield of 4.5%, underscoring its commitment to returning capital to shareholders.

Capital Advisors Inc. OK increased its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 580,675 shares of the oil and gas company's stock after acquiring an additional 11,417 shares during the quarter. Chevron makes up about 1.5% of Capital Advisors Inc. OK's holdings, making the stock its 13th biggest position. Capital Advisors Inc. OK's holdings in Chevron were worth $83,147,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CVX. Kingstone Capital Partners Texas LLC grew its position in Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company's stock valued at $13,214,757,000 after buying an additional 83,702,101 shares during the last quarter. GQG Partners LLC purchased a new stake in shares of Chevron in the 1st quarter worth about $1,466,751,000. Nuveen LLC purchased a new stake in shares of Chevron in the 1st quarter worth about $1,362,232,000. Charles Schwab Investment Management Inc. boosted its position in shares of Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock worth $5,592,263,000 after buying an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Chevron by 141.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company's stock worth $316,483,000 after buying an additional 1,107,628 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Chevron in a report on Saturday, September 27th. Scotiabank reissued a "sector perform" rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Melius started coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price objective for the company. Morgan Stanley started coverage on shares of Chevron in a research report on Monday, August 4th. They issued an "overweight" rating and a $174.00 price objective for the company. Finally, Barclays reissued an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Eleven equities 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, Chevron currently has an average rating of "Hold" and a consensus price target of $165.05.

Insiders Place Their Bets

In related news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated 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 directly owned 1,181 shares in the company, valued at approximately $188,960. The trade was 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 currently owned by company insiders.

Chevron Stock Performance

CVX stock opened at $153.59 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The stock has a market capitalization of $265.40 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.99 and a beta of 0.84. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock's fifty day moving average is $156.23 and its two-hundred day moving average is $148.87.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm's quarterly revenue was down 12.4% compared to the same quarter last year. During the same period last year, the business posted $2.55 earnings per share. On average, research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued 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 of this dividend was Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is 88.03%.

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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.