Chevron Corporation $CVX Shares Purchased by Vest Financial LLC

Key Points

• Vest Financial LLC increased its stake in Chevron by 14.1% during the second quarter, now holding 438,175 shares valued at approximately $62.74 million.
• Several institutional investors, including Kingstone Capital Partners, have significantly raised their stakes in Chevron, contributing to institutional ownership of 72.42% in the company.
• Chemical engineering analysts maintain a mixed outlook on Chevron, with a cumulative rating of "Hold" and an average price target of $165.40, highlighting varying confidence among investors.

Vest Financial LLC lifted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 14.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 438,175 shares of the oil and gas company's stock after purchasing an additional 54,063 shares during the period. Chevron makes up 0.9% of Vest Financial LLC's investment portfolio, making the stock its 20th largest holding. Vest Financial LLC's holdings in Chevron were worth $62,742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC lifted its stake in shares of Chevron by 652,139.5% in 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 purchasing an additional 83,702,101 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 4.9% in 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 purchasing an additional 1,574,464 shares during the period. Invesco Ltd. lifted its stake in shares of Chevron by 5.5% in 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 purchasing an additional 827,851 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Chevron by 0.3% in 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 purchasing an additional 40,758 shares during the period. Finally, GQG Partners LLC acquired a new stake in shares of Chevron in the first quarter valued at about $1,466,751,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Buying and Selling

In other news, Director John B. Hess sold 375,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the business'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 transaction of $636,480.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CVX shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Chevron in a research note on Wednesday, October 8th. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. UBS Group lifted their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Piper Sandler lifted their target price on shares of Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Finally, Scotiabank lifted their target price on shares of Chevron from $160.00 to $165.00 and gave the stock a "sector perform" rating in a research report on Thursday. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $165.40.

Chevron Stock Performance

NYSE:CVX opened at $149.11 on Monday. The firm has a 50 day simple moving average of $156.10 and a 200-day simple moving average of $148.41. 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 firm has a market cap of $257.66 billion, a PE ratio of 19.19, a P/E/G ratio of 1.93 and a beta of 0.84. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company's revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.55 earnings per share. On average, equities analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's payout ratio is currently 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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