Marino Stram & Associates LLC Has $1.24 Million Holdings in Chevron Corporation $CVX

Key Points

• Marino Stram & Associates LLC increased its holdings in Chevron Corporation by 134.6% in Q2, ending the period with $1.24 million in shares.
• The company reported $1.77 EPS for the last quarter, surpassing estimates, with a net margin of 7.02% and revenue of $44.82 billion.
• Chevron announced a quarterly dividend of $1.71, reflecting an annualized payout of $6.84 and a yield of 4.4%.

Marino Stram & Associates LLC increased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 134.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,662 shares of the oil and gas company's stock after purchasing an additional 4,970 shares during the quarter. Marino Stram & Associates LLC's holdings in Chevron were worth $1,240,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. CCG Wealth Management LLC boosted its position in shares of 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 worth $1,060,000 after acquiring an additional 145 shares in the last quarter. Ignite Planners LLC raised its position in Chevron by 14.1% during the first 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 in the last quarter. Vista Capital Partners Inc. lifted its stake in Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock worth $993,000 after purchasing an additional 495 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Chevron by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock worth $24,075,000 after purchasing an additional 675 shares during the last quarter. Finally, Capital Advisors Inc. OK boosted its holdings in shares of Chevron by 0.3% in the 1st quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company's stock valued at $95,231,000 after purchasing an additional 1,755 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Chevron stock opened at $155.38 on Wednesday. The business has a 50 day moving average of $156.27 and a 200-day moving average of $149.14. The company has a market capitalization of $268.50 billion, a P/E ratio of 20.00, a P/E/G ratio of 1.95 and a beta of 0.90. 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.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period in the previous year, the firm posted $2.55 EPS. The company's revenue for the quarter was down 12.4% compared to the same quarter last year. On average, equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron's dividend payout ratio is presently 88.03%.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 375,000 shares of the 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 sale, 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 SEC, which is accessible through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the firm'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 owned 1,181 shares of the company's stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on CVX shares. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a report on Friday, July 18th. Wells Fargo & Company reiterated an "overweight" rating and issued a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Scotiabank reissued 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. Piper Sandler increased their target price on shares of Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Finally, UBS Group raised their price target on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Eleven 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 MarketBeat.com, Chevron presently has a consensus rating of "Hold" and an average target price of $165.05.

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.

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