Chevron Corporation $CVX Shares Purchased by Thurston Springer Miller Herd & Titak Inc.

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its holdings in Chemron Corporation by 20.6%, acquiring an additional 4,230 shares in the 2nd quarter, bringing the total to 24,776 shares valued at approximately $3.5 million.
• Chevron announced a quarterly dividend of $1.71 per share, representing a 4.4% yield, with a payout ratio of 88.03%.
• Analysts have set an average price target of $164.80 for Chevron stocks, with a consensus rating indicating a mix of Buy, Hold, and Sell ratings among equities research analysts.

Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 20.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,776 shares of the oil and gas company's stock after acquiring an additional 4,230 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in Chevron were worth $3,548,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CVX. Bank Pictet & Cie Europe AG increased its position in shares of Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after acquiring an additional 2,641 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Chevron in the fourth quarter worth $258,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Chevron in the fourth quarter worth $389,000. Scissortail Wealth Management LLC increased its position in shares of Chevron by 23,923.8% in the fourth quarter. Scissortail Wealth Management LLC now owns 5,045 shares of the oil and gas company's stock worth $731,000 after acquiring an additional 5,024 shares in the last quarter. Finally, Safeguard Investment Advisory Group LLC increased its position in shares of Chevron by 3.6% in the fourth quarter. Safeguard Investment Advisory Group LLC now owns 5,485 shares of the oil and gas company's stock worth $794,000 after acquiring an additional 193 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CVX. Evercore ISI restated an "outperform" rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Barclays restated an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Raymond James Financial restated an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Piper Sandler upped their target price on shares of Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Finally, Scotiabank restated a "sector perform" rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a research note 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 assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $164.80.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the 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 sale, 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 Trading Down 0.6%

NYSE CVX opened at $157.23 on Friday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The company has a market capitalization of $271.69 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. The company's fifty day moving average price is $154.67 and its two-hundred day moving average price is $148.85.

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, beating 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 for the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the prior year, the firm posted $2.55 EPS. The firm's revenue was down 12.4% compared to the same quarter last year. As a group, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

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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