Invst LLC Makes New $892,000 Investment in Chevron Corporation $CVX

Key Points

• Invst LLC has acquired a new stake in Chevron Corporation, purchasing 5,332 shares valued at approximately $892,000.
• Chevron recently declared a quarterly dividend of $1.71 per share, which represents an annualized dividend yield of 4.4%.
• Institutional investors and hedge funds collectively own 72.42% of Chevron's stock, highlighting strong institutional interest in the company.

Invst LLC bought a new stake in Chevron Corporation (NYSE:CVX - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 5,332 shares of the oil and gas company's stock, valued at approximately $892,000.

Several other institutional investors also recently bought and sold shares of CVX. Modern Wealth Management LLC grew its position in shares of Chevron by 8.9% during the first quarter. Modern Wealth Management LLC now owns 112,588 shares of the oil and gas company's stock worth $18,835,000 after buying an additional 9,186 shares in the last quarter. Nova Wealth Management Inc. raised its stake in shares of Chevron by 102.6% during the first quarter. Nova Wealth Management Inc. now owns 466 shares of the oil and gas company's stock worth $78,000 after purchasing an additional 236 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Chevron by 25.7% during the first quarter. Jones Financial Companies Lllp now owns 697,011 shares of the oil and gas company's stock worth $115,887,000 after acquiring an additional 142,662 shares during the period. Silicon Valley Capital Partners grew its holdings in Chevron by 2.2% during the first quarter. Silicon Valley Capital Partners now owns 6,915 shares of the oil and gas company's stock worth $1,148,000 after acquiring an additional 149 shares during the period. Finally, Strs Ohio acquired a new stake in Chevron in the first quarter valued at $103,669,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on CVX shares. Raymond James Financial reaffirmed an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Morgan Stanley assumed coverage on Chevron in a research note on Monday, August 4th. They issued an "overweight" rating and a $174.00 target price for the company. Scotiabank reaffirmed a "sector perform" rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Melius Research started coverage on Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price objective on the stock. Finally, TD Cowen lifted their target price on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a report on Monday, August 4th. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $164.80.

Chevron Stock Performance

Shares of NYSE CVX traded down $1.02 during trading hours on Friday, hitting $157.23. 5,545,397 shares of the company's stock were exchanged, compared to its average volume of 7,652,500. Chevron Corporation has a 1-year low of $132.04 and a 1-year 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. The stock has a market capitalization of $271.69 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.98 and a beta of 0.90. The company's 50-day moving average price is $154.67 and its 200-day moving average price is $148.85.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. During the same quarter in the prior year, the firm posted $2.55 EPS. The company's revenue for the quarter was down 12.4% on a year-over-year basis. On average, sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is currently 88.03%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of Chevron 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 sale, the vice president owned 1,181 shares of the company's stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron 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 sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Chevron 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.