Chevron Corporation $CVX Shares Bought by DMKC Advisory Services LLC

Key Points

• DMKC Advisory Services LLC increased its stake in Chevron Corporation by 15.5% in the second quarter, owning a total of 14,457 shares valued at approximately $2.19 million.
• Chevron announced a quarterly dividend of $1.71 per share, reflecting an annualized yield of 4.5% and a dividend payout ratio of 88.03%.
• The company reported earnings of $1.77 per share for the last quarter, exceeding expectations, with a revenue of $44.82 billion, although down 12.4% year-over-year.

DMKC Advisory Services LLC lifted its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 15.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,457 shares of the oil and gas company's stock after buying an additional 1,945 shares during the quarter. DMKC Advisory Services LLC's holdings in Chevron were worth $2,189,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd grew its holdings in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP acquired a new stake in shares of Chevron in the 1st quarter valued at about $31,000. Cloud Capital Management LLC purchased a new position in Chevron during the 1st quarter worth approximately $39,000. Investment Management Corp VA ADV grew its stake in Chevron by 171.3% during the 1st 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 during the last quarter. Finally, Cooksen Wealth LLC acquired a new position in Chevron during the first quarter worth approximately $43,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company'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 sale, the vice president owned 1,181 shares of the company's stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hess sold 375,000 shares of the business's 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 completion of the sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CVX shares. Evercore ISI restated an "outperform" rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. UBS Group increased their price target 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. TD Cowen lifted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research note on Monday, August 4th. Raymond James Financial reaffirmed an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Finally, Piper Sandler raised their price target on Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $165.05.

Chevron Trading Down 0.7%

NYSE:CVX opened at $153.53 on Friday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. 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 fifty day moving average price of $156.26 and a two-hundred day moving average price of $149.14. The stock has a market capitalization of $265.30 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 1.97 and a beta of 0.84.

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

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron's dividend payout ratio (DPR) 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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