Chevron Corporation $CVX Stake Raised by ST Germain D J Co. Inc.

Key Points

• ST Germain D J Co. Inc. increased its stake in Chevron Corporation by 43.2% in the second quarter, owning 21,437 shares valued at approximately $3.07 million.
• Chemical and energy firms like Chevron reported a 12.4% decrease in quarterly revenue year-over-year, with earnings per share (EPS) of $1.77 surpassing analyst expectations.
• Chevron recently announced a quarterly dividend of $1.71 per share, resulting in an annualized dividend yield of 4.3%.

ST Germain D J Co. Inc. raised its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 43.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,437 shares of the oil and gas company's stock after acquiring an additional 6,470 shares during the quarter. ST Germain D J Co. Inc.'s holdings in Chevron were worth $3,070,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd grew its holdings in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 122 shares in the last quarter. Elequin Capital LP purchased a new stake in shares of Chevron during the first quarter worth $31,000. IFS Advisors LLC boosted its position in Chevron by 119.6% during 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 last quarter. Cloud Capital Management LLC purchased a new position in Chevron in the first quarter valued at about $39,000. Finally, Investment Management Corp VA ADV grew its stake 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 valued at $39,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Price Performance

NYSE CVX opened at $160.92 on Friday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a fifty day simple moving average of $155.83 and a 200 day simple moving average of $149.11. 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 company has a market cap of $278.08 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.99 and a beta of 0.90.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping 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 firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter last year, the firm posted $2.55 EPS. The business's quarterly revenue was down 12.4% on a year-over-year basis. On average, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.3%. Chevron's dividend payout ratio is presently 88.03%.

Insider Buying and Selling

In other Chevron news, 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 value of $59,362,500.00. Following the sale, the director owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Alana K. Knowles sold 3,978 shares of the company'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 value of $636,480.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVX. Piper Sandler lifted their price target on Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Bank of America raised their price objective on shares of Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Evercore ISI reiterated an "outperform" rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Scotiabank restated a "sector perform" rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus target price of $165.05.

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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