Norman Fields Gottscho Capital Management LLC Makes New $254,000 Investment in Chevron Corporation $CVX

Key Points

• Norman Fields Gottscho Capital Management LLC acquired a new position in Chevron Corporation, purchasing 1,775 shares valued at approximately $254,000 in the second quarter.
• Chevron's latest earnings report indicated an EPS of $1.77, exceeding analysts' expectations, though its revenue was down by 12.4% compared to the previous year.
• The company recently announced a quarterly dividend of $1.71 per share, representing an annualized dividend yield of 4.3% and a payout ratio of 88.03%.

Norman Fields Gottscho Capital Management LLC acquired a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 1,775 shares of the oil and gas company's stock, valued at approximately $254,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Sage Capital Advisors llc lifted 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 during the period. CCG Wealth Management LLC grew its position in Chevron by 2.3% in the first 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% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock worth $2,060,000 after purchasing an additional 1,519 shares during the period. Vista Capital Partners Inc. grew its holdings in shares of Chevron by 9.1% in 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. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Chevron by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock worth $24,075,000 after buying an additional 675 shares during the period. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Shares of CVX traded up $2.25 during mid-day trading on Tuesday, reaching $159.56. 8,008,054 shares of the company's stock were exchanged, compared to its average volume of 7,495,309. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a market cap of $275.72 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.97 and a beta of 0.90. The company has a 50-day simple moving average of $155.00 and a two-hundred day simple moving average of $148.86. 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 released its 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 analyst estimates of $44.59 billion. During the same period in the prior year, the firm posted $2.55 earnings per share. The business's quarterly revenue was down 12.4% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company 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 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's payout ratio is currently 88.03%.

Insiders Place Their Bets

In related news, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction that occurred on 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 approximately $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. TD Cowen raised their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a report on Monday, August 4th. Morgan Stanley began coverage on shares of Chevron in a research note on Monday, August 4th. They issued an "overweight" rating and a $174.00 price target on the stock. Barclays reissued an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Melius assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a "hold" rating and a $155.00 target price on the stock. Finally, Mizuho decreased their price target on shares of Chevron from $192.00 to $191.00 and set an "outperform" rating for the company in a research report on Monday. Eleven equities 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 data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $165.05.

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.