Chevron Corporation $CVX Shares Purchased by CORDA Investment Management LLC.

Key Points

• CORDA Investment Management LLC increased its holdings in Chevron Corporation by 17.2%, owning 18,130 shares valued at approximately $2.6 million.
• Chevron's recent earnings report showed $1.77 EPS, surpassing estimates, but revenue was down 12.4% year-over-year.
• Chevron's current dividend yield is 4.5%, with the latest quarterly dividend of $1.71 paid out to investors.

CORDA Investment Management LLC. boosted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 17.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,130 shares of the oil and gas company's stock after acquiring an additional 2,660 shares during the period. CORDA Investment Management LLC.'s holdings in Chevron were worth $2,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Greenfield Savings Bank boosted its stake in Chevron by 0.6% during the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company's stock valued at $1,663,000 after acquiring an additional 68 shares during the last quarter. Atwater Malick LLC boosted its holdings in Chevron by 2.4% in the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company's stock worth $413,000 after purchasing an additional 68 shares during the period. Hubbell Strickland Wealth Management LLC boosted its holdings in Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company's stock worth $1,443,000 after purchasing an additional 68 shares during the period. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in shares of Chevron by 10.3% during the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company's stock valued at $107,000 after acquiring an additional 70 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its holdings in shares of Chevron by 4.1% during the second quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company's stock valued at $260,000 after acquiring an additional 71 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent analyst reports. Mizuho cut their price objective on shares of Chevron from $192.00 to $191.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. Scotiabank boosted their price target on shares of Chevron from $160.00 to $165.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 9th. Barclays cut their price objective on Chevron from $160.00 to $158.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 7th. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Finally, Piper Sandler boosted their price target on Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Eleven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Chevron presently has an average rating of "Hold" and a consensus price target of $165.25.

Chevron Stock Performance

Shares of NYSE CVX opened at $153.12 on Monday. The business has a fifty day simple moving average of $156.03 and a 200 day simple moving average of $147.96. 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 firm has a market capitalization of $264.58 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.02 and a beta of 0.84. Chevron Corporation has a one year low of $132.04 and a one year 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 (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.55 earnings per share. Sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is currently 88.03%.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was 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 of the company's stock, valued at $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hess sold 375,000 shares of the business's stock in a transaction that occurred on 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. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

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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