Oliver Lagore Vanvalin Investment Group Acquires Shares of 8,992 Chevron Corporation $CVX

Key Points

• Oliver Lagore Vanvalin Investment Group has invested approximately $1.29 million in Chevron Corporation, acquiring 8,992 shares during the second quarter.
• Chevron recently reported $1.77 EPS for the quarter, exceeding analysts' expectations, while also declaring a quarterly dividend of $1.71 per share.
• The company's stock is currently valued at around $158.87, with a market cap of $274.52 billion and a downward trend of 0.8% as of the last trading session.

Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,992 shares of the oil and gas company's stock, valued at approximately $1,288,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Harvest Fund Management Co. Ltd grew its holdings in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after buying an additional 122 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of Chevron during the first quarter valued at approximately $31,000. 10Elms LLP purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $29,000. IFS Advisors LLC grew its holdings in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after buying an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC purchased a new stake in shares of Chevron during the first quarter valued at approximately $39,000. Institutional investors own 72.42% of the company's stock.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on 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 transaction, the director directly owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction, the vice president directly owned 1,181 shares of the company's stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

Chevron Stock Performance

CVX traded down $0.05 during trading on Monday, hitting $156.16. The company's stock had a trading volume of 5,178,093 shares, compared to its average volume of 7,668,525. 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 Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market cap of $269.84 billion, a PE ratio of 20.10, a P/E/G ratio of 1.96 and a beta of 0.90. The business's 50 day simple moving average is $155.33 and its 200-day simple moving average is $148.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company's revenue was down 12.4% on a year-over-year basis. During the same period last year, the firm earned $2.55 EPS. As a group, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Analysts Set New Price Targets

CVX has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of Chevron in a report on Monday, August 4th. They set an "overweight" rating and a $174.00 price target on the stock. Evercore ISI reiterated an "outperform" rating and set a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a report on Friday, July 18th. TD Cowen raised their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a report on Monday, August 4th. Finally, Piper Sandler raised 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. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of "Hold" and a consensus price target 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.