Chevron Corporation $CVX Shares Purchased by Jackson Hole Capital Partners LLC

Key Points

• Jackson Hole Capital Partners LLC increased its holdings in Chevron Corporation by 39.3% in Q2, owning a total of 18,207 shares valued at approximately $2.6 million.
• Chevron declared a quarterly dividend of $1.71 per share, representing an annualized yield of 4.4% with a payout ratio of 88.03%.
• Analysts are mixed on Chevron, with price targets ranging from $155.00 to $197.00, and an overall average rating of "Hold".

Jackson Hole Capital Partners LLC boosted its position in Chevron Corporation (NYSE:CVX - Free Report) by 39.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,207 shares of the oil and gas company's stock after purchasing an additional 5,140 shares during the period. Jackson Hole Capital Partners LLC's holdings in Chevron were worth $2,607,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd lifted its position in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP acquired a new stake in Chevron in the first quarter worth approximately $31,000. IMG Wealth Management Inc. lifted its position in Chevron by 52.3% in the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company's stock worth $38,000 after purchasing an additional 91 shares during the period. Cloud Capital Management LLC acquired a new stake in Chevron in the first quarter worth approximately $39,000. Finally, Investment Management Corp VA ADV lifted its position in 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 worth $39,000 after purchasing an additional 149 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction 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 transaction, the vice president directly owned 1,181 shares of the company's stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of the company's stock in a transaction 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 in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $156.48 on Friday. The company's fifty day moving average is $156.05 and its two-hundred day moving average is $148.25. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a market cap of $270.39 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 4.42 and a beta of 0.84.

Chevron (NYSE:CVX - Get Free Report) last announced its 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. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the previous year, the business earned $2.55 EPS. The company's revenue was down 12.4% on a year-over-year basis. Equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business 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. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron's dividend payout ratio is 88.03%.

Analysts Set New Price Targets

CVX has been the subject of a number of recent research reports. UBS Group increased their price objective on Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Melius initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Chevron in a research report on Wednesday, October 8th. Mizuho cut their price objective on Chevron from $192.00 to $191.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Finally, Piper Sandler increased their price objective on Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Chevron currently has an average 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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