Dohj LLC Purchases Shares of 3,093 Chevron Corporation $CVX

Key Points

• Dohj LLC acquired 3,093 shares of Chevron Corporation worth approximately $423,000 in the second quarter.
• Chevron reported earnings per share (EPS) of $1.77 for the latest quarter, exceeding analysts' expectations of $1.58.
• The company declared a quarterly dividend of $1.71 per share, reflecting a 4.4% yield, with a payout ratio of 88.03%.

Dohj LLC bought a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,093 shares of the oil and gas company's stock, valued at approximately $423,000.

A number of other large investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd grew its position in 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 worth $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP purchased a new stake in shares of Chevron in the first quarter worth about $31,000. Cloud Capital Management LLC acquired a new stake in Chevron during the first quarter worth about $39,000. Investment Management Corp VA ADV raised its position in Chevron by 171.3% during 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 acquiring an additional 149 shares in the last quarter. Finally, Cooksen Wealth LLC purchased a new position in Chevron during the first quarter valued at approximately $43,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Melius began coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective on the stock. Raymond James Financial reaffirmed an "outperform" rating on shares of Chevron in a report on Friday, August 1st. TD Cowen raised their target price on Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research report on Monday, August 4th. Evercore ISI restated an "outperform" rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Finally, UBS Group boosted their price objective on Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Chevron currently has a consensus rating of "Hold" and an average price target of $165.15.

Chevron Stock Up 0.6%

Shares of CVX opened at $154.92 on Wednesday. The company's 50-day simple moving average is $156.15 and its 200-day simple moving average is $148.84. The stock has a market capitalization of $267.70 billion, a PE ratio of 19.94, a P/E/G ratio of 1.99 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. 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 results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter last year, the company earned $2.55 EPS. Chevron's revenue for the quarter was down 12.4% compared to the same quarter last year. Analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 3,978 shares of the business's 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 completion of the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction 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 sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

About Chevron

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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