Focus Partners Advisor Solutions LLC Grows Stock Holdings in Chevron Corporation $CVX

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in Chevron Corporation by 6.4%, owning 57,048 shares valued at $9,544,000 after acquiring an additional 3,416 shares.
• Chevron recently announced a quarterly dividend of $1.71 per share, which translates to an annualized dividend of $6.84 and a yield of 4.3%.
• In recent analysts' reports, Chevron's stock received mixed ratings, with eleven analysts assigning a Buy rating, while some downgraded it from buy to hold or sell, indicating caution in the current market environment.

Focus Partners Advisor Solutions LLC grew its position in Chevron Corporation (NYSE:CVX - Free Report) by 6.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,048 shares of the oil and gas company's stock after buying an additional 3,416 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Chevron were worth $9,544,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd lifted its stake in shares of Chevron by 420.7% in 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 during the last quarter. 10Elms LLP bought a new stake in Chevron during the fourth quarter worth $29,000. Elequin Capital LP bought a new stake in Chevron in the 1st quarter worth about $31,000. IFS Advisors LLC boosted its position in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new stake in shares of Chevron in the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Down 2.4%

Shares of NYSE:CVX traded down $3.84 during trading on Wednesday, reaching $157.99. The stock had a trading volume of 8,523,196 shares, compared to its average volume of 7,364,815. 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 capitalization of $273.01 billion, a P/E ratio of 18.85, a PEG ratio of 2.38 and a beta of 0.90. The firm's 50-day simple moving average is $152.93 and its 200 day simple moving average is $148.86. Chevron Corporation has a one year low of $132.04 and a one 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, topping analysts' consensus estimates of $1.58 by $0.19. The company 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%. Chevron's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period last year, the firm posted $2.55 EPS. As a group, research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is 88.03%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Melius Research began coverage on Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price target for the company. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a report on Tuesday, May 6th. Mizuho reduced their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and reduced their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, UBS Group boosted their price objective on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Eleven research 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. Based on data from MarketBeat, Chevron has an average rating of "Hold" and an average price target of $163.95.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of the company'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 $222,102,023.50. This represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

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.