Fielder Capital Group LLC Purchases Shares of 17,364 Chevron Corporation $CVX

Key Points

• Fielder Capital Group acquired 17,364 Chevron shares worth approximately $2.88 million in the second quarter, while institutional investors collectively own 72.42% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $207.48; 20 analysts rate Chevron a Buy, five Hold, and one Sell.
• Chevron reported quarterly earnings of $6.06 per share, exceeding estimates, while revenue rose 57.4% year over year to $67.20 billion. The company also announced a quarterly dividend of $1.78 per share, representing a 3.6% yield.

Fielder Capital Group LLC acquired a new position in Chevron Corporation (NYSE:CVX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,364 shares of the oil and gas company's stock, valued at approximately $2,878,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. United Bank boosted its stake in shares of Chevron by 7.7% during the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company's stock worth $1,586,000 after acquiring an additional 796 shares in the last quarter. Schnieders Capital Management LLC. increased its stake in shares of Chevron by 9.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock valued at $7,280,000 after purchasing an additional 4,214 shares in the last quarter. BNP Paribas increased its stake in shares of Chevron by 76.4% in the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company's stock valued at $63,000 after purchasing an additional 191 shares in the last quarter. Osterweis Capital Management Inc. raised its holdings in Chevron by 678.9% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company's stock worth $195,000 after purchasing an additional 1,188 shares during the period. Finally, Main Street Financial Solutions LLC raised its holdings in Chevron by 3.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company's stock worth $2,299,000 after purchasing an additional 553 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several research analyst reports. Sanford C. Bernstein raised their price objective on Chevron from $204.00 to $209.00 and gave the company a "market perform" rating in a report on Monday, August 3rd. Mizuho set a $224.00 price objective on Chevron in a research report on Monday, August 3rd. Morgan Stanley reduced their target price on Chevron from $214.00 to $210.00 and set an "overweight" rating for the company in a research note on Monday, June 29th. Weiss Ratings upgraded Chevron from a "hold (c)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Finally, Wolfe Research raised shares of Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price target on the stock in a research note on Thursday, July 2nd. Twenty analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $207.48.

Chevron Stock Performance

NYSE CVX opened at $199.99 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The stock's 50 day simple moving average is $183.30 and its 200-day simple moving average is $187.01. The company has a market cap of $395.13 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 0.61 and a beta of 0.49. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The firm had revenue of $67.20 billion during the quarter, compared to analysts' expectations of $62.72 billion. During the same period in the previous year, the business earned $1.77 earnings per share. The firm's revenue for the quarter was up 57.4% on a year-over-year basis. As a group, equities research analysts anticipate that Chevron Corporation will post 15.86 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron's payout ratio is 68.26%.

Insiders Place Their Bets

In other news, Director John B. Hess sold 100,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.26, for a total value of $19,426,000.00. Following the transaction, the director directly owned 178,045 shares of the company's stock, valued at approximately $34,587,021.70. This trade represents a 35.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael K. Wirth sold 5,547 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the transaction, the chief executive officer owned 26,308 shares in the company, valued at $4,919,596. The trade was a 17.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,196,212 shares of company stock valued at $231,819,366 in the last ninety days. Insiders own 0.56% of the company's stock.

Chevron Profile

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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