Secured Retirement Advisors LLC Grows Stake in Chevron Corporation $CVX

Key Points

• Secured Retirement Advisors LLC increased its stake in Chevron Corporation by 16.6% during Q2, now owning 12,418 shares valued at approximately $1.78 million.
• Chevron had a net margin of 7.02% and reported a 12.4% year-over-year decline in quarterly revenue, with earnings per share of $1.77 beating estimates.
• The company recently declared a quarterly dividend of $1.71, translating to an annualized yield of 4.4% and a payout ratio of 88.03%.

Secured Retirement Advisors LLC raised its stake in Chevron Corporation (NYSE:CVX - Free Report) by 16.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,418 shares of the oil and gas company's stock after purchasing an additional 1,769 shares during the quarter. Chevron comprises about 1.1% of Secured Retirement Advisors LLC's investment portfolio, making the stock its 29th biggest position. Secured Retirement Advisors LLC's holdings in Chevron were worth $1,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of CVX. Kingstone Capital Partners Texas LLC increased its stake in Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company's stock worth $13,214,757,000 after buying an additional 83,702,101 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock worth $5,592,263,000 after buying an additional 1,574,464 shares during the period. Invesco Ltd. increased its position in shares of Chevron by 5.5% during the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company's stock worth $2,652,437,000 after acquiring an additional 827,851 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Chevron by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company's stock worth $2,054,513,000 after acquiring an additional 40,758 shares during the last quarter. Finally, GQG Partners LLC purchased a new stake in shares of Chevron during the first quarter worth about $1,466,751,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the firm's 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 sale, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were 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 in the company, 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. 0.20% of the stock is owned by company insiders.

Chevron Price Performance

CVX opened at $154.92 on Wednesday. The firm has a market cap of $267.70 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 1.99 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 company's 50-day moving average price is $156.15 and its 200 day moving average price is $148.84. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

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, topping the consensus estimate 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%. Chevron's quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.55 earnings per share. As a group, sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Evercore ISI restated an "outperform" rating and set a $180.00 price objective on shares of Chevron in a report on Thursday, July 31st. Bank of America lifted their price target on shares of Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Morgan Stanley initiated coverage on shares of Chevron in a research report on Monday, August 4th. They issued an "overweight" rating and a $174.00 target price for the company. Weiss Ratings reissued a "hold (c)" rating on shares of Chevron in a research report on Saturday, September 27th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a report on Friday, July 18th. Eleven research 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. According to data from MarketBeat.com, Chevron has a consensus rating of "Hold" and a consensus target price of $165.15.

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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