Viewpoint Investment Partners Corp Raises Holdings in Chevron Corporation $CVX

Key Points

• Viewpoint Investment Partners Corp increased its holdings in Chevron Corporation by 327.4%, owning 13,248 shares valued at approximately $1.9 million.
• Chevron's recent earnings report showed a profit of $1.77 per share, exceeding analyst expectations, with a revenue of $44.82 billion.
• The company recently announced a quarterly dividend of $1.71 per share, resulting in an annualized dividend yield of 4.5%.

Viewpoint Investment Partners Corp boosted its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 327.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,248 shares of the oil and gas company's stock after acquiring an additional 10,148 shares during the quarter. Chevron comprises 1.0% of Viewpoint Investment Partners Corp's holdings, making the stock its 22nd largest holding. Viewpoint Investment Partners Corp's holdings in Chevron were worth $1,897,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Apella Capital LLC boosted its position in shares of Chevron by 21.6% during the 1st quarter. Apella Capital LLC now owns 10,477 shares of the oil and gas company's stock worth $1,753,000 after purchasing an additional 1,859 shares during the period. Johnson & White Wealth Management LLC boosted its position in shares of Chevron by 12.1% during the first quarter. Johnson & White Wealth Management LLC now owns 3,967 shares of the oil and gas company's stock worth $664,000 after buying an additional 427 shares during the period. Bay Rivers Group raised its holdings in shares of Chevron by 8.4% in the 1st quarter. Bay Rivers Group now owns 1,605 shares of the oil and gas company's stock valued at $268,000 after buying an additional 125 shares during the period. HF Advisory Group LLC purchased a new stake in shares of Chevron in the 1st quarter valued at $204,000. Finally, Naples Global Advisors LLC lifted its stake in Chevron by 2.1% during the 1st quarter. Naples Global Advisors LLC now owns 28,781 shares of the oil and gas company's stock worth $4,815,000 after acquiring an additional 586 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent research reports. Piper Sandler raised their price objective on shares of Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. TD Cowen raised their price target on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research report on Monday, August 4th. Barclays restated an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $165.05.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the business'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 completion of the sale, the vice president directly owned 1,181 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company'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 owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Chevron Trading Down 0.7%

NYSE:CVX opened at $153.53 on Friday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market cap of $265.30 billion, a P/E ratio of 19.76, a P/E/G ratio of 1.97 and a beta of 0.84. 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 stock has a 50-day simple moving average of $156.26 and a 200-day simple moving average of $149.14.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results 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 during the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm's revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.55 earnings per share. As a group, analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given 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 of this dividend was Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is 88.03%.

About Chevron

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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