Galvin Gaustad & Stein LLC Has $10.73 Million Stake in Chevron Corporation $CVX

Key Points

• Galvin Gaustad & Stein LLC increased its stake in Chevron Corporation by 3.4%, holding 74,959 shares valued at approximately $10.73 million.
• Chevron's recent quarterly earnings showed a profit of $1.77 per share, exceeding expectations, with revenue of $44.82 billion, although down 12.4% year-over-year.
• The company declared a quarterly dividend of $1.71 per share, resulting in an annualized yield of 4.5%.

Galvin Gaustad & Stein LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,959 shares of the oil and gas company's stock after purchasing an additional 2,442 shares during the quarter. Galvin Gaustad & Stein LLC's holdings in Chevron were worth $10,733,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. 3Chopt Investment Partners LLC boosted its holdings in Chevron by 1.2% during the second quarter. 3Chopt Investment Partners LLC now owns 12,164 shares of the oil and gas company's stock worth $1,742,000 after purchasing an additional 148 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in Chevron by 45.4% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 820,348 shares of the oil and gas company's stock valued at $117,466,000 after acquiring an additional 256,208 shares during the last quarter. Pinion Investment Advisors LLC lifted its stake in Chevron by 4.1% in the second quarter. Pinion Investment Advisors LLC now owns 5,894 shares of the oil and gas company's stock valued at $844,000 after acquiring an additional 232 shares during the last quarter. Stiles Financial Services Inc lifted its stake in Chevron by 3.4% in the second quarter. Stiles Financial Services Inc now owns 4,459 shares of the oil and gas company's stock valued at $639,000 after acquiring an additional 147 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. lifted its stake in Chevron by 14.3% in the second quarter. McKinley Carter Wealth Services Inc. now owns 24,014 shares of the oil and gas company's stock valued at $3,439,000 after acquiring an additional 3,002 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were 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 approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Melius Research assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target for the company. Melius assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target for the company. Wells Fargo & Company reiterated an "overweight" rating and issued a $178.00 price target on shares of Chevron in a research note on Friday, August 1st. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Chevron in a research note on Wednesday. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $165.40.

Chevron Price Performance

Shares of CVX opened at $151.63 on Friday. The firm has a market capitalization of $262.02 billion, a PE ratio of 19.51, a PEG ratio of 1.98 and a beta of 0.84. The company's 50-day moving average is $156.15 and its 200-day moving average is $148.79. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating 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 company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period in the prior year, the firm earned $2.55 earnings per share. The company's revenue was down 12.4% on a year-over-year basis. Equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is currently 88.03%.

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.

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