Chevron Corporation $CVX Shares Bought by Schaper Benz & Wise Investment Counsel Inc. WI

Key Points

• Schaper Benz & Wise Investment Counsel Inc. increased its stake in Chevron by 1.5%, owning 110,318 shares worth approximately $15.8 million at the end of the last quarter.
• Chevron reported a net margin of 7.02% for its latest quarter, with earnings per share surpassing estimates at $1.77, though revenue was down 12.4% year-over-year.
• The company declared a quarterly dividend of $1.71, reflecting an annualized dividend of $6.84, which yields 4.4%, with a payout ratio of 88.03%.

Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 110,318 shares of the oil and gas company's stock after buying an additional 1,659 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI's holdings in Chevron were worth $15,796,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC grew its position in Chevron by 652,139.5% during the second 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 period. Charles Schwab Investment Management Inc. grew its position in Chevron by 4.9% during the first 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 buying an additional 1,574,464 shares during the period. Invesco Ltd. grew its position in Chevron by 5.5% during the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company's stock valued at $2,652,437,000 after buying an additional 827,851 shares during the period. Dimensional Fund Advisors LP grew its position in Chevron by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company's stock valued at $2,054,513,000 after buying an additional 40,758 shares during the period. Finally, GQG Partners LLC acquired a new stake in Chevron during the first quarter valued at $1,466,751,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Performance

NYSE:CVX opened at $155.45 on Thursday. The company's 50-day moving average price is $156.03 and its 200-day moving average price is $148.13. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The company has a market cap of $268.61 billion, a P/E ratio of 20.01, a P/E/G ratio of 2.05 and a beta of 0.84. 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 posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company's revenue for the quarter was down 12.4% on a year-over-year basis. During the same period last year, the firm posted $2.55 earnings per share. On average, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal 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 paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is currently 88.03%.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were 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 of the company's stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $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.

Analysts Set New Price Targets

Several research firms recently commented on CVX. Wells Fargo & Company started coverage on shares of Chevron in a research report on Friday, October 17th. They set an "overweight" rating and a $190.00 price target on the stock. Melius started coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price on the stock. Barclays dropped their target price on shares of Chevron from $160.00 to $158.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 7th. UBS Group lifted their target price on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Chevron in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $165.25.

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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