Chevron Corporation $CVX Shares Purchased by CRA Financial Services LLC

Key Points

• CRA Financial Services LLC increased its holdings in Chevron Corporation's shares by 23.0% during the 2nd quarter, owning a total of 17,186 shares valued at approximately $2,461,000.
• Chevron announced a quarterly dividend of $1.71 per share, resulting in an annualized yield of 4.4%, with a payout ratio of 88.03%.
• Recent analyst ratings indicate a mixed outlook for Chevron, with eleven analysts rating the stock as "Buy" and a consensus target price of $165.05.

CRA Financial Services LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 23.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,186 shares of the oil and gas company's stock after acquiring an additional 3,216 shares during the quarter. CRA Financial Services LLC's holdings in Chevron were worth $2,461,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVX. Harvest Fund Management Co. Ltd raised its stake in 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 acquiring an additional 122 shares during the period. Elequin Capital LP acquired a new stake in Chevron during the first quarter worth about $31,000. IFS Advisors LLC increased its stake in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares during the period. Cloud Capital Management LLC acquired a new stake in shares of Chevron in the first quarter valued at approximately $39,000. Finally, Investment Management Corp VA ADV increased its stake in shares of Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 149 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Raymond James Financial restated an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Bank of America raised their price target on shares of Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Barclays restated an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Mizuho dropped their price target 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. Finally, Melius Research assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Chevron has an average rating of "Hold" and a consensus target price of $165.05.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were 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 of the company's stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the firm'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 transaction of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

Chevron Trading Down 0.0%

Chevron stock opened at $156.16 on Tuesday. The company has a 50 day moving average price of $155.33 and a 200 day moving average price of $148.96. Chevron Corporation has a 52 week low of $132.04 and a 52 week 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 firm has a market capitalization of $269.84 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 1.96 and a beta of 0.90.

Chevron (NYSE:CVX - Get Free Report) last posted 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. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same quarter last year, the business posted $2.55 EPS. The company's revenue was down 12.4% on a year-over-year basis. Research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid 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 4.4%. Chevron's dividend payout ratio (DPR) is currently 88.03%.

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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