Ransom Advisory Ltd Purchases Shares of 10,334 Chevron Corporation $CVX

Key Points

• Ransom Advisory Ltd acquired a new position in Chevron Corporation, purchasing 10,334 shares valued at approximately $1.73 million during the first quarter.
• Chevron recently reported quarterly earnings of $1.77 per share, exceeding analysts' expectations, with a revenue of $44.82 billion, marking a 12.4% year-over-year decline.
• The company is set to pay a $1.71 quarterly dividend on September 10th, translating to an annualized yield of 4.4% with a payout ratio of 88.03%.

Ransom Advisory Ltd purchased a new stake in Chevron Corporation (NYSE:CVX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,334 shares of the oil and gas company's stock, valued at approximately $1,729,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Anchor Investment Management LLC increased its stake in shares of Chevron by 0.8% in the 1st quarter. Anchor Investment Management LLC now owns 41,126 shares of the oil and gas company's stock valued at $6,880,000 after acquiring an additional 332 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co increased its stake in Chevron by 3.2% during the 1st quarter. Ilmarinen Mutual Pension Insurance Co now owns 307,000 shares of the oil and gas company's stock worth $51,358,000 after purchasing an additional 9,500 shares in the last quarter. Plato Investment Management Ltd increased its stake in Chevron by 3.5% during the 1st quarter. Plato Investment Management Ltd now owns 44,436 shares of the oil and gas company's stock worth $7,514,000 after purchasing an additional 1,501 shares in the last quarter. SageView Advisory Group LLC increased its stake in Chevron by 4.7% during the 1st quarter. SageView Advisory Group LLC now owns 15,324 shares of the oil and gas company's stock worth $2,564,000 after purchasing an additional 683 shares in the last quarter. Finally, Advisory Alpha LLC increased its stake in Chevron by 11.8% during the 1st quarter. Advisory Alpha LLC now owns 9,307 shares of the oil and gas company's stock worth $1,557,000 after purchasing an additional 983 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CVX shares. TD Cowen increased their target price on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research note on Monday, August 4th. Scotiabank reissued a "sector perform" rating and set a $160.00 target price (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Barclays reissued an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Bank of America increased their target price on Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Melius Research started coverage on Chevron in a research note on Wednesday, August 20th. They set a "hold" rating and a $155.00 target price for the company. 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $164.80.

Chevron Stock Down 0.6%

Shares of CVX traded down $1.02 during mid-day trading on Friday, hitting $157.23. 5,545,397 shares of the company's stock were exchanged, compared to its average volume of 7,956,036. The company has a market cap of $271.69 billion, a PE ratio of 20.24, a P/E/G ratio of 2.00 and a beta of 0.90. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a 50-day simple moving average of $154.67 and a 200 day simple moving average of $148.85. 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 issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business's quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the business earned $2.55 EPS. On average, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company's stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

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.