Legacy Financial Strategies LLC Acquires Shares of 1,784 Chevron Corporation $CVX

Key Points

• Legacy Financial Strategies LLC acquired 1,784 shares of Chevron Corporation, valued at approximately $255,000, marking a new stake in the oil and gas company.
• Chevron's quarterly earnings report showed earnings per share of $1.77, surpassing expectations, with revenue of $44.82 billion despite a year-over-year decline of 12.4%.
• The company recently announced a quarterly dividend of $1.71, reflecting an annualized payout of $6.84 and a dividend yield of 4.3%.

Legacy Financial Strategies LLC acquired a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,784 shares of the oil and gas company's stock, valued at approximately $255,000.

Other institutional investors also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd boosted its position 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 valued at $25,000 after acquiring an additional 122 shares in the last quarter. 10Elms LLP bought a new stake in Chevron during the 4th quarter valued at $29,000. Elequin Capital LP bought a new stake in Chevron during the 1st quarter valued at $31,000. IFS Advisors LLC boosted its position in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after acquiring an additional 116 shares in the last quarter. Finally, Cloud Capital Management LLC bought a new stake in Chevron during the 1st quarter valued at $39,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley assumed coverage on Chevron in a research report on Monday, August 4th. They set an "overweight" rating and a $174.00 target price on the stock. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Melius Research initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 target price on the stock. Scotiabank reissued a "sector perform" rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $165.05.

Insider Transactions 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 transaction of $636,480.00. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction, the director owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

Chevron Stock Performance

CVX traded down $0.05 on Monday, reaching $156.16. 5,178,093 shares of the stock were exchanged, compared to its average volume of 7,668,525. The company's 50-day moving average price is $155.33 and its 200 day moving average price is $148.96. 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. The firm has a market capitalization of $269.84 billion, a PE ratio of 20.10, a PEG ratio of 1.96 and a beta of 0.90.

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

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron's 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.