Chevron Corporation $CVX Shares Bought by CX Institutional

Key Points

• CX Institutional increased its stake in Chevron Corporation by 5.7% during the second quarter, owning 52,528 shares worth approximately $7.52 million.
• Corporate insiders sold significant amounts of stock recently, with VP Alana K. Knowles selling 3,978 shares and Director John B. Hess selling 375,000 shares, indicating potential shifts in insider sentiment.
• Chevron announced a quarterly dividend of $1.71 per share, representing a 4.3% yield and reflecting a payout ratio of 88.03%.

CX Institutional lifted its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 5.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,528 shares of the oil and gas company's stock after purchasing an additional 2,852 shares during the quarter. CX Institutional's holdings in Chevron were worth $7,521,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Sage Capital Advisors llc boosted its stake in Chevron by 2.2% during 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 purchasing an additional 919 shares in the last quarter. CCG Wealth Management LLC lifted its holdings in shares of Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after buying an additional 145 shares during the period. Ignite Planners LLC boosted its stake 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 valued at $2,060,000 after buying an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. grew its holdings in Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock worth $993,000 after acquiring an additional 495 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position 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 worth $24,075,000 after acquiring an additional 675 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on 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 directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Chevron Trading Up 1.1%

Chevron stock opened at $160.92 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company's fifty day simple moving average is $155.83 and its 200-day simple moving average is $149.11. The stock has a market cap of $278.08 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.99 and a beta of 0.90.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data 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. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. During the same quarter last year, the firm earned $2.55 earnings per share. The business's revenue for the quarter was down 12.4% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared 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 of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. Chevron's payout ratio is presently 88.03%.

Analyst Ratings Changes

CVX has been the subject of several research reports. Morgan Stanley initiated coverage on shares of Chevron in a research report on Monday, August 4th. They set an "overweight" rating and a $174.00 price objective for the company. TD Cowen upped their price target on Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a report on Monday, August 4th. Evercore ISI reiterated an "outperform" rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Bank of America lifted their target price on Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Finally, UBS Group increased their price target on Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Eleven 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 a consensus rating of "Hold" and an average 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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