Chevron Corporation $CVX Shares Bought by Raab & Moskowitz Asset Management LLC

Key Points

• Raab & Moskowitz Asset Management LLC increased its stake in Chevron Corporation by 14.3%, owning 18,197 shares worth approximately $3.04 million as of the latest quarter.
• Chevron's recent quarterly earnings surpassed estimates, reporting $1.77 EPS against a consensus of $1.58, alongside a revenue of $44.82 billion.
• The company announced a new quarterly dividend of $1.71, resulting in an annualized dividend of $6.84 and a yield of 4.4%, with a payout ratio of 88.03%.

Raab & Moskowitz Asset Management LLC raised its stake in Chevron Corporation (NYSE:CVX - Free Report) by 14.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,197 shares of the oil and gas company's stock after acquiring an additional 2,272 shares during the quarter. Raab & Moskowitz Asset Management LLC's holdings in Chevron were worth $3,044,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Chevron by 4.9% in the first 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 acquiring an additional 1,574,464 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Chevron by 5.5% in the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company's stock worth $2,652,437,000 after acquiring an additional 827,851 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Chevron by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company's stock worth $2,054,513,000 after acquiring an additional 40,758 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Chevron in the first quarter worth $1,466,751,000. Finally, Nuveen LLC acquired a new position in Chevron in the first quarter valued at $1,362,232,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of the company's 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 completion of the sale, the vice president owned 1,181 shares of the company's stock, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company's stock in a transaction dated 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 completion of the sale, 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 position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Chevron Stock Performance

Shares of NYSE:CVX opened at $153.83 on Friday. The firm has a market capitalization of $265.81 billion, a PE ratio of 19.80, a P/E/G ratio of 2.28 and a beta of 0.90. 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 business has a 50-day moving average of $153.69 and a two-hundred day moving average of $148.87. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly 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 during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm's revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.55 earnings per share. As a group, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron's dividend payout ratio is presently 88.03%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Evercore ISI reiterated an "outperform" rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Melius Research assumed coverage on Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price for the company. Morgan Stanley assumed coverage on Chevron in a research note on Monday, August 4th. They issued an "overweight" rating and a $174.00 target price for the company. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Finally, Barclays reiterated an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Chevron has a consensus rating of "Hold" and an average price target of $163.95.

Chevron 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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