Schwartz Investment Counsel Inc. Purchases 26,000 Shares of Chevron Corporation $CVX

Key Points

• Schwartz Investment Counsel Inc. increased its Chevron holdings by 10.3%, acquiring an additional 26,000 shares, bringing its total ownership to 278,267 shares valued at approximately $39.8 million.
• Chevron's recent quarterly earnings report showed an EPS of $1.77, beating analysts' estimates, despite a 12.4% revenue decline compared to the previous year's quarter.
• Chevron announced a quarterly dividend of $1.71, resulting in a 4.4% dividend yield, with a payout ratio of 88.03% as part of its capital return strategy.

Schwartz Investment Counsel Inc. increased its position in Chevron Corporation (NYSE:CVX - Free Report) by 10.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 278,267 shares of the oil and gas company's stock after acquiring an additional 26,000 shares during the quarter. Chevron comprises about 1.3% of Schwartz Investment Counsel Inc.'s investment portfolio, making the stock its 27th biggest position. Schwartz Investment Counsel Inc.'s holdings in Chevron were worth $39,845,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CVX. GAMMA Investing LLC raised its holdings in Chevron by 27.3% in the 1st quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company's stock worth $5,408,000 after acquiring an additional 6,928 shares during the period. Genesee Capital Advisors LLC grew its position in Chevron by 2.4% in the 1st quarter. Genesee Capital Advisors LLC now owns 4,559 shares of the oil and gas company's stock worth $763,000 after purchasing an additional 107 shares during the last quarter. Cherry Creek Investment Advisors Inc. grew its position in Chevron by 2.2% in the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 4,430 shares of the oil and gas company's stock worth $741,000 after purchasing an additional 95 shares during the last quarter. 1858 Wealth Management LLC acquired a new stake in Chevron in the 1st quarter worth $216,000. Finally, Crumly & Associates Inc. grew its position in Chevron by 4.3% in the 1st quarter. Crumly & Associates Inc. now owns 3,438 shares of the oil and gas company's stock worth $575,000 after purchasing an additional 143 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business's stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the business's 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Evercore ISI restated an "outperform" rating and issued a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Piper Sandler raised their price target on shares of Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Scotiabank lifted their target price on shares of Chevron from $160.00 to $165.00 and gave the company a "sector perform" rating in a research report on Thursday, October 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of Chevron in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $165.25.

Chevron Price Performance

NYSE:CVX opened at $154.53 on Tuesday. The firm has a market cap of $267.02 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. 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 price is $156.05 and its two-hundred day moving average price is $148.04.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.55 earnings per share. On average, equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

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

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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