Guggenheim Capital LLC Has $47.32 Million Stock Holdings in Chevron Corporation $CVX

Key Points

• Guggenheim Capital LLC increased its holdings in Chevron Corporation (NYSE:CVX) by 4.2%, acquiring an additional 11,326 shares during the first quarter, which brought their total to 282,833 shares valued at approximately $47.31 million.
• Chevron reported $1.77 earnings per share for the last quarter, surpassing analyst expectations of $1.58, though revenue decreased year-over-year by 12.4%.
• The company declared a quarterly dividend of $1.71 per share, yielding 4.3%, with an upcoming payment date of September 10th for stockholders on record as of August 19th.

Guggenheim Capital LLC grew its stake in Chevron Corporation (NYSE:CVX - Free Report) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 282,833 shares of the oil and gas company's stock after purchasing an additional 11,326 shares during the quarter. Guggenheim Capital LLC's holdings in Chevron were worth $47,315,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd raised its stake in Chevron by 420.7% during the first 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 during the period. 10Elms LLP acquired a new stake in Chevron during the fourth quarter worth about $29,000. Elequin Capital LP acquired a new stake in Chevron during the first quarter worth about $31,000. Navigoe LLC acquired a new stake in Chevron during the fourth quarter worth about $33,000. Finally, IFS Advisors LLC raised its stake in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Mizuho dropped their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. UBS Group raised their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. TD Cowen raised their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a report on Monday, August 4th. Scotiabank reiterated a "sector perform" rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Finally, Melius Research began coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective on the stock. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $163.95.

Chevron Stock Up 0.0%

Shares of CVX stock traded up $0.05 on Thursday, hitting $159.29. The company's stock had a trading volume of 6,501,985 shares, compared to its average volume of 8,245,963. 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 fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm's fifty day moving average price is $152.06 and its 200-day moving average price is $148.80. The stock has a market capitalization of $275.26 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 2.36 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. The business 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 quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.55 EPS. Research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

Insider Activity at Chevron

In other 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 transaction of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company's stock.

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.