GFS Advisors LLC Invests $9.47 Million in Chevron Corporation $CVX

Key Points

• GFS Advisors LLC invested approximately $9.47 million in Chevron Corporation, acquiring 66,161 shares which now represent 1.3% of its portfolio.
• Chevron's stock currently has a consensus rating of "Hold" with a target price of $165.40 based on research from several analysts.
• The company declared a quarterly dividend of $1.71 per share, indicating an annualized yield of 4.6% and a payout ratio of 88.03%.

GFS Advisors LLC purchased a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 66,161 shares of the oil and gas company's stock, valued at approximately $9,474,000. Chevron makes up approximately 1.3% of GFS Advisors LLC's portfolio, making the stock its 27th biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its stake 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 acquiring an additional 122 shares in the last quarter. Elequin Capital LP purchased a new position in shares of Chevron during the 1st quarter worth $31,000. Cloud Capital Management LLC purchased a new position in shares of Chevron in the 1st quarter worth $39,000. Investment Management Corp VA ADV raised its position in Chevron by 171.3% in 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 purchasing an additional 149 shares during the period. Finally, GFG Capital LLC bought a new stake in shares of Chevron in the second quarter worth $42,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVX has been the subject of a number of research reports. Mizuho decreased their price target on Chevron from $192.00 to $191.00 and set an "outperform" rating for the company in a research note on Monday, September 15th. Melius began coverage on Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price for the company. Wells Fargo & Company reiterated an "overweight" rating and issued a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Evercore ISI reiterated an "outperform" rating and issued a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Finally, Melius Research started coverage on Chevron in a research note on Wednesday, August 20th. They set a "hold" rating and a $155.00 target price for the company. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $165.40.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the company's stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Chevron Stock Down 1.7%

CVX stock opened at $149.11 on Friday. The company has a market capitalization of $257.66 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 1.92 and a beta of 0.84. The firm's fifty day simple moving average is $156.10 and its 200-day simple moving average is $148.54. 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 Corporation has a 12 month low of $132.04 and a 12 month 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 for the quarter, topping the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company's revenue for the quarter was down 12.4% on a year-over-year basis. During the same period last year, the firm posted $2.55 earnings per share. As a group, equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's dividend payout ratio 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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