Valicenti Advisory Services Inc. Grows Stock Position in Chevron Corporation $CVX

Key Points

• Valicenti Advisory Services Inc. increased its stake in Chevron Corporation by 7.1%, owning a total of 59,214 shares valued at approximately $8.48 million.
• Chevron's stock has received positive ratings from several analysts, with target prices ranging from $155 to $180 and an average consensus rating of "Hold."
• The company declared a quarterly dividend of $1.71, translating to an annualized dividend yield of 4.3% and a payout ratio of 88.03%.

Valicenti Advisory Services Inc. lifted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 7.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 59,214 shares of the oil and gas company's stock after acquiring an additional 3,935 shares during the quarter. Chevron makes up 2.0% of Valicenti Advisory Services Inc.'s investment portfolio, making the stock its 19th largest position. Valicenti Advisory Services Inc.'s holdings in Chevron were worth $8,479,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd lifted its position 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 valued at $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP bought a new position in shares of Chevron during the first quarter valued at about $31,000. IFS Advisors LLC lifted its position in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares during the last quarter. Cloud Capital Management LLC bought a new stake in Chevron during the 1st quarter valued at $39,000. Finally, Investment Management Corp VA ADV raised its stake in shares of 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 valued at $39,000 after acquiring an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CVX shares. Piper Sandler boosted their target price on Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Evercore ISI reissued an "outperform" rating and issued a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Melius Research initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target on the stock. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $178.00 target price 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 issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $165.05.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction 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 directly owned 1,181 shares of the company's stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction 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 company'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 owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Chevron Price Performance

Shares of Chevron stock opened at $160.13 on Friday. The stock has a 50 day moving average of $156.04 and a 200 day moving average of $149.15. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm has a market cap of $276.70 billion, a PE ratio of 20.61, a PEG ratio of 2.01 and a beta of 0.90.

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

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. Chevron's dividend payout ratio is presently 88.03%.

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.

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