MBB Public Markets I LLC Makes New $324,000 Investment in Chevron Corporation $CVX

Key Points

• MBB Public Markets I LLC invested $324,000 in Chevron Corporation by purchasing 1,938 shares in the first quarter, reflecting shifting investor interest in the stock.
• Chevron reported earnings of $1.77 per share for the last quarter, exceeding analysts' expectations, and generated $44.82 billion in revenue, although revenue was down 12.4% year-over-year.
• The company's quarterly dividend of $1.71, with an annualized yield of 4.4%, will be paid to shareholders of record on August 19th, indicating Chevron's commitment to returning value to investors.

MBB Public Markets I LLC bought a new position in Chevron Corporation (NYSE:CVX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,938 shares of the oil and gas company's stock, valued at approximately $324,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CVX. Bank Pictet & Cie Europe AG raised its stake in shares of Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after acquiring an additional 2,641 shares during the last quarter. Algert Global LLC raised its position in shares of Chevron by 21.9% during the fourth quarter. Algert Global LLC now owns 3,010 shares of the oil and gas company's stock worth $436,000 after acquiring an additional 540 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Chevron during the fourth quarter worth about $7,741,000. Laraway Financial Advisors Inc raised its position in shares of Chevron by 14.4% during the fourth quarter. Laraway Financial Advisors Inc now owns 1,420 shares of the oil and gas company's stock worth $206,000 after acquiring an additional 179 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC bought a new position in shares of Chevron during the fourth quarter worth about $62,424,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Up 0.3%

Shares of NYSE CVX opened at $154.17 on Tuesday. The firm has a market cap of $266.41 billion, a PE ratio of 19.84, a P/E/G ratio of 2.28 and a beta of 0.90. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company's fifty day simple moving average is $153.91 and its 200 day simple moving average is $148.78. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is 88.03%.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of analyst reports. Piper Sandler raised their price objective on Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Mizuho decreased their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Melius started coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective for the company. Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. Finally, Barclays reiterated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Eleven equities research 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. According to data from MarketBeat, Chevron has an average rating of "Hold" and an average price target of $163.95.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.