Strathmore Capital Advisors Inc. Invests $428,000 in Chevron Corporation $CVX

Key Points

• Strathmore Capital Advisors Inc. has acquired a new stake in Chevron Corporation, investing approximately $428,000 for 2,800 shares during the second quarter.
• Chevron recently reported better-than-expected earnings with an EPS of $1.77, surpassing analysts' estimates of $1.58, though its revenue decreased 12.4% year-over-year.
• The company declared a quarterly dividend of $1.71 per share, yielding approximately 4.3%, highlighting its strong focus on returning value to shareholders.

Strathmore Capital Advisors Inc. purchased a new stake in Chevron Corporation (NYSE:CVX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,800 shares of the oil and gas company's stock, valued at approximately $428,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Aua Capital Management LLC acquired a new stake in Chevron during the 2nd quarter worth approximately $337,000. Baader Bank Aktiengesellschaft increased its holdings in Chevron by 20.0% in the second quarter. Baader Bank Aktiengesellschaft now owns 2,500 shares of the oil and gas company's stock valued at $358,000 after purchasing an additional 416 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Chevron by 3.0% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 608,901 shares of the oil and gas company's stock worth $87,189,000 after purchasing an additional 17,805 shares during the last quarter. Shira Ridge Wealth Management grew its position in shares of Chevron by 58.0% in the 2nd quarter. Shira Ridge Wealth Management now owns 2,150 shares of the oil and gas company's stock valued at $308,000 after buying an additional 789 shares during the last quarter. Finally, KMG Fiduciary Partners LLC raised its position in shares of Chevron by 1.7% during the second quarter. KMG Fiduciary Partners LLC now owns 74,518 shares of the oil and gas company's stock worth $10,670,000 after acquiring an additional 1,265 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling

In other news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred 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 sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Chevron Trading Down 1.7%

CVX stock traded down $2.73 during trading on Friday, hitting $156.11. 16,709,599 shares of the company traded hands, compared to its average volume of 7,286,043. 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 50-day moving average of $155.24 and a 200-day moving average of $148.99. The firm has a market capitalization of $269.76 billion, a PE ratio of 20.09, a P/E/G ratio of 1.96 and a beta of 0.90. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. The business 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 revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.55 EPS. Analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders 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 annualized dividend and a dividend yield of 4.4%. Chevron's dividend payout ratio (DPR) is 88.03%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. Piper Sandler raised their price objective on Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Mizuho dropped their price objective on shares of Chevron from $192.00 to $191.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. UBS Group boosted their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Melius assumed coverage on Chevron in a research note on Wednesday, August 20th. They set a "hold" rating and a $155.00 price target for the company. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $165.05.

Chevron 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.