Chevron Corporation $CVX Shares Bought by Rowlandmiller & PARTNERS.ADV

Key Points

• Rowlandmiller & PARTNERS.ADV increased its stake in Chevron by 4.1%, owning 49,850 shares valued at approximately $7.14 million, making it the fund's 20th largest holding.
• Chevron’s quarterly earnings surpassed forecasts, reporting $1.77 EPS against an expected $1.58, with revenues of $44.82 billion.
• The company's recent dividend of $1.71 reflects an annualized yield of 4.4% and a payout ratio of 88.03%.

Rowlandmiller & PARTNERS.ADV lifted its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 4.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,850 shares of the oil and gas company's stock after acquiring an additional 1,944 shares during the period. Chevron accounts for approximately 1.5% of Rowlandmiller & PARTNERS.ADV's portfolio, making the stock its 20th biggest holding. Rowlandmiller & PARTNERS.ADV's holdings in Chevron were worth $7,138,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GQG Partners LLC acquired a new position in Chevron in the 1st quarter valued at about $1,466,751,000. Nuveen LLC acquired a new position in Chevron in the 1st quarter valued at about $1,362,232,000. GAMMA Investing LLC raised its stake in Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after purchasing an additional 5,382,847 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in 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 valued at $5,592,263,000 after purchasing an additional 1,574,464 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in 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 valued at $316,483,000 after purchasing an additional 1,107,628 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CVX. Melius began coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price for the company. Raymond James Financial reissued an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Melius Research initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 target price on the stock. Wells Fargo & Company reiterated an "overweight" rating and set a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Finally, Scotiabank reiterated a "sector perform" rating and set a $160.00 target price (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $164.80.

Chevron Stock Performance

NYSE CVX opened at $157.23 on Friday. The business's 50-day moving average price is $154.67 and its 200 day moving average price is $148.89. The company has a market capitalization of $271.69 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company'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 EPS. On average, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is 88.03%.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 375,000 shares of the firm'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 transaction, 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 document filed with the SEC, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm'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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

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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