Farther Finance Advisors LLC Has $13.56 Million Stock Position in Chevron Corporation $CVX

Key Points

• Farther Finance Advisors LLC increased its holdings in Chevron Corporation by 4.8% during the second quarter, now owning 94,662 shares valued at approximately $13.6 million.
• Chevron recently reported earnings of $1.77 per share, exceeding estimates, but reported a 12.4% year-over-year decline in revenue.
• The company declared a quarterly dividend of $1.71 per share, with an annualized dividend yield of 4.4% and a payout ratio of 88.03%.

Farther Finance Advisors LLC raised its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 4.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,662 shares of the oil and gas company's stock after purchasing an additional 4,372 shares during the period. Farther Finance Advisors LLC's holdings in Chevron were worth $13,555,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG lifted its stake in shares of Chevron by 7.9% in the 4th 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 during the period. Two Sigma Investments LP lifted its stake in shares of Chevron by 84.5% in the 4th quarter. Two Sigma Investments LP now owns 35,171 shares of the oil and gas company's stock worth $5,094,000 after acquiring an additional 16,104 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of Chevron in the 4th quarter worth approximately $40,000. Retirement Planning Group LLC NY acquired a new stake in shares of Chevron in the 4th quarter worth approximately $258,000. Finally, North Star Asset Management Inc. lifted its stake in shares of Chevron by 9.6% in the 4th quarter. North Star Asset Management Inc. now owns 12,967 shares of the oil and gas company's stock worth $1,878,000 after acquiring an additional 1,140 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research analyst reports. Scotiabank reaffirmed a "sector perform" rating and issued a $160.00 price target (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Wells Fargo & Company reissued an "overweight" rating and set a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Melius assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a "hold" rating and a $155.00 target price for the company. Melius Research assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a "hold" rating and a $155.00 target price for the company. Finally, Raymond James Financial reissued an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Eleven 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 data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $165.05.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction dated 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 trade represents a 77.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction dated 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 transaction, the director directly 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 disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

NYSE:CVX traded up $1.99 during midday trading on Tuesday, reaching $158.04. The stock had a trading volume of 3,650,383 shares, compared to its average volume of 9,162,562. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm's fifty day simple moving average is $155.33 and its 200-day simple moving average is $148.96. 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 stock has a market capitalization of $273.09 billion, a P/E ratio of 20.32, a PEG ratio of 1.96 and a beta of 0.90.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results 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. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the prior year, the firm earned $2.55 EPS. The business's revenue was down 12.4% on a year-over-year basis. On average, equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued 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 yield of 4.3%. Chevron's dividend payout ratio is 88.03%.

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.