Hamilton Capital LLC Buys 2,832 Shares of Chevron Corporation $CVX

Key Points

• Hamilton Capital LLC increased its stake in Chevron Corporation by 17.6% during the 1st quarter, owning 18,903 shares valued at approximately $3.16 million.
• Chevron's quarterly earnings surpassed expectations with an EPS of $1.77, while the company reported a revenue of $44.82 billion for the quarter, down 12.4% year-over-year.
• Chevron has announced a quarterly dividend of $1.71 per share, representing an annualized payout of $6.84, which yields 4.4% for shareholders.

Hamilton Capital LLC raised its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 17.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,903 shares of the oil and gas company's stock after acquiring an additional 2,832 shares during the period. Chevron makes up 0.2% of Hamilton Capital LLC's holdings, making the stock its 17th largest position. Hamilton Capital LLC's holdings in Chevron were worth $3,162,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sage Capital Advisors llc raised its stake in Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after acquiring an additional 919 shares in the last quarter. CCG Wealth Management LLC raised its stake in Chevron by 2.3% during the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after acquiring an additional 145 shares in the last quarter. Ignite Planners LLC increased its position in shares of Chevron by 14.1% during the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after purchasing an additional 1,519 shares during the period. Vista Capital Partners Inc. increased its position in shares of Chevron by 9.1% during the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after purchasing an additional 495 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Chevron by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after purchasing an additional 675 shares during the period. Institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVX. HSBC cut Chevron from a "buy" rating to a "hold" rating and lowered their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Evercore ISI reiterated an "outperform" rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Finally, 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 on the stock. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $164.80.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares of the company's stock, valued at $188,960. This represents a 77.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was 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 directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Chevron Trading Up 1.9%

Shares of Chevron stock traded up $2.91 on Wednesday, reaching $157.76. 7,373,698 shares of the company were exchanged, compared to its average volume of 9,278,739. The stock has a fifty day moving average price of $154.09 and a 200-day moving average price of $148.82. The firm has a market capitalization of $272.60 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 2.28 and a beta of 0.90. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week 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, beating the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron's quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.55 earnings per share. On average, analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

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

About Chevron

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.