Park Avenue Securities LLC Has $14.18 Million Position in Chevron Corporation $CVX

Key Points

• Park Avenue Securities LLC increased its position in Chevron Corporation by 1.8%, owning 99,031 shares worth approximately $14.18 million as of its latest SEC filing.
• The stock has recently seen bullish ratings from analysts, with Wells Fargo setting a price objective of $178.00 and UBS increasing their target to $197.00, along with a consensus rating of "Hold."
• Chevron reported $1.77 earnings per share for the last quarter, exceeding expectations, while also declaring a quarterly dividend of $1.71 per share, yielding 4.4%.

Park Avenue Securities LLC grew its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 99,031 shares of the oil and gas company's stock after purchasing an additional 1,726 shares during the period. Park Avenue Securities LLC's holdings in Chevron were worth $14,180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sellwood Investment Partners LLC bought a new stake in shares of Chevron during the second quarter valued at approximately $55,000. Sowell Financial Services LLC grew its position in Chevron by 6.1% in the 2nd quarter. Sowell Financial Services LLC now owns 79,699 shares of the oil and gas company's stock valued at $11,412,000 after purchasing an additional 4,557 shares during the period. Quad Cities Investment Group LLC bought a new stake in Chevron during the 2nd quarter valued at $207,000. Vanguard Capital Wealth Advisors raised its holdings in Chevron by 12.3% during the second quarter. Vanguard Capital Wealth Advisors now owns 2,418 shares of the oil and gas company's stock worth $346,000 after buying an additional 264 shares during the last quarter. Finally, Annex Advisory Services LLC lifted its stake in shares of Chevron by 9.8% in the second quarter. Annex Advisory Services LLC now owns 197,116 shares of the oil and gas company's stock valued at $28,225,000 after buying an additional 17,634 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CVX. Wells Fargo & Company reissued an "overweight" rating and set a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Mizuho lowered their price target on Chevron from $192.00 to $191.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Bank of America lifted their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Finally, UBS Group increased their target price on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $165.05.

Chevron Stock Performance

NYSE CVX opened at $156.11 on Friday. The firm has a market cap of $269.76 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 1.96 and a beta of 0.90. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The company's 50 day moving average is $155.24 and its 200-day moving average is $148.99. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating 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 business had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same period in the previous year, the business earned $2.55 EPS. Chevron's revenue was down 12.4% compared to the same quarter last year. Sell-side 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 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 dividend payout ratio is 88.03%.

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction dated 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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Alana K. Knowles sold 3,978 shares of the 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 sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

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.

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