Schnieders Capital Management LLC Boosts Stock Position in Chevron Corporation $CVX

Key Points

• Schnieders Capital Management LLC increased its stake in Chevron Corporation by 9.0%, buying an additional 4,214 shares, which now makes Chevron its 19th largest holding valued at $7.28 million.
• Chevron recently reported $1.77 earnings per share (EPS) for the last quarter, exceeding analysts' expectations, although revenue was down 12.4% year-over-year.
• Insider selling was notable with Chevron Director John B. Hess selling 375,000 shares, representing a 21.09% decrease in position, while VP Alana K. Knowles sold 3,978 shares, reducing her stake by 77.11%.

Schnieders Capital Management LLC lifted its position in Chevron Corporation (NYSE:CVX - Free Report) by 9.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,839 shares of the oil and gas company's stock after purchasing an additional 4,214 shares during the quarter. Chevron comprises about 1.3% of Schnieders Capital Management LLC's holdings, making the stock its 19th biggest holding. Schnieders Capital Management LLC's holdings in Chevron were worth $7,280,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVX. Greenfield Savings Bank raised its stake in shares of Chevron by 0.6% in the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company's stock valued at $1,663,000 after acquiring an additional 68 shares in the last quarter. Atwater Malick LLC raised its position in Chevron by 2.4% in the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company's stock valued at $413,000 after purchasing an additional 68 shares in the last quarter. Hubbell Strickland Wealth Management LLC boosted its stake in shares of Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company's stock valued at $1,443,000 after buying an additional 68 shares during the period. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Chevron by 10.3% during the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company's stock worth $107,000 after buying an additional 70 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its stake in shares of Chevron by 4.1% during the second quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company's stock worth $260,000 after buying an additional 71 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction on 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company's stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Chevron Stock Performance

NYSE CVX opened at $153.12 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The stock has a market capitalization of $264.58 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.02 and a beta of 0.84. The business's 50 day moving average is $156.03 and its two-hundred day moving average is $147.96.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm's quarterly revenue was down 12.4% compared to the same quarter last year. During the same period last year, the company posted $2.55 earnings per share. Research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors 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 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron's payout ratio is 88.03%.

Analyst Ratings Changes

Several research firms have commented on CVX. TD Cowen boosted 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. Wells Fargo & Company initiated coverage on shares of Chevron in a research note on Friday. They set an "overweight" rating and a $190.00 target price for the company. Piper Sandler increased their target price on Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Bank of America lifted 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. Finally, Melius Research initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 target price on the stock. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $165.25.

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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