Sava Infond d.o.o. Buys 2,670 Shares of Chevron Corporation $CVX

Key Points

• Sava Infond d.o.o. has increased its stake in Chevron Corporation by 14.7%, acquiring an additional 2,670 shares during the second quarter, bringing its total holdings to 20,850 shares worth approximately $2,986,000.
• Chevron's stock has recently seen price target upgrades by several analysts, with Bank of America raising its target from $170 to $185 and UBS increasing their target from $186 to $197, indicating strong market confidence.
• The company announced a quarterly dividend of $1.71 per share, reflecting a dividend yield of 4.5%, despite a reported 12.4% decrease in quarterly revenue compared to the prior year.

Sava Infond d.o.o. increased its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 14.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,850 shares of the oil and gas company's stock after buying an additional 2,670 shares during the quarter. Sava Infond d.o.o.'s holdings in Chevron were worth $2,986,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CVX. Harvest Fund Management Co. Ltd grew its holdings in 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 worth $25,000 after buying an additional 122 shares in the last quarter. Elequin Capital LP bought a new stake in Chevron during the first quarter worth $31,000. Cloud Capital Management LLC bought a new stake in Chevron during the first quarter worth $39,000. Investment Management Corp VA ADV grew its holdings in Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock worth $39,000 after buying an additional 149 shares in the last quarter. Finally, Cooksen Wealth LLC bought a new stake in Chevron during the first quarter worth $43,000. Institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wells Fargo & Company reiterated an "overweight" rating and set a $178.00 price target on shares of Chevron in a report on Friday, August 1st. Bank of America upped their price target on Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. UBS Group upped their price objective on Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Scotiabank restated a "sector perform" rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, Mizuho reduced their price objective on Chevron from $192.00 to $191.00 and set an "outperform" rating for the company in a research note on Monday, September 15th. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $165.05.

Chevron Stock Up 0.1%

CVX stock opened at $153.59 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market capitalization of $265.40 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.98 and a beta of 0.84. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a fifty day moving average of $156.23 and a 200-day moving average of $149.09.

Chevron (NYSE:CVX - Get Free Report) last posted 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 the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.55 EPS. As a group, equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron's dividend payout ratio is presently 88.03%.

Insider Transactions at Chevron

In related news, 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 sale, the vice president owned 1,181 shares of the company's stock, valued at approximately $188,960. This 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 the stock in a transaction dated 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 sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

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.

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