Northstar Financial Companies Inc. Takes $3.27 Million Position in Chevron Corporation $CVX

Northstar Financial Companies Inc. bought a new position in shares of Chevron Corporation (NYSE:CVX) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 19,706 shares of the oil and gas company’s stock, valued at approximately $3,266,000. Chevron comprises 2.2% of Northstar Financial Companies Inc.’s investment portfolio, making the stock its 11th biggest holding.

A number of other institutional investors have also made changes to their positions in CVX. Midwest Capital Advisors LLC bought a new position in Chevron during the first quarter worth $25,000. Core Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at about $26,000. Phillip James Consulting Co. acquired a new stake in shares of Chevron during the 4th quarter worth about $26,000. Basso Capital Management L.P. acquired a new stake in shares of Chevron during the 4th quarter worth about $27,000. Finally, Karpus Management Inc. acquired a new stake in shares of Chevron during the 4th quarter worth about $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of Chevron stock opened at $199.99 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $395.13 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 0.61 and a beta of 0.49. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The company has a 50-day simple moving average of $183.30 and a two-hundred day simple moving average of $187.01.

Chevron (NYSE:CVX) last announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same quarter in the prior year, the business posted $1.77 EPS. The business’s revenue was up 57.4% compared to the same quarter last year. Analysts forecast that Chevron Corporation will post 15.86 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Wednesday, August 19th. Chevron’s payout ratio is 68.26%.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 100,000 shares of Chevron stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the transaction, the director directly owned 178,045 shares of the company’s stock, valued at $34,587,021.70. The trade was a 35.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael K. Wirth sold 5,547 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total value of $1,037,289.00. Following the sale, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $4,919,596. The trade was a 17.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,196,212 shares of company stock worth $231,819,366 in the last three months. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on CVX. Mizuho set a $224.00 price target on shares of Chevron in a research note on Monday, August 3rd. Dbs Bank upgraded Chevron to a “moderate buy” rating in a report on Thursday, August 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $216.00 target price on shares of Chevron in a research report on Friday, July 10th. The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Finally, Bank of America lifted their price target on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Twenty research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $207.48.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.