Chevron Corporation $CVX Shares Purchased by Montag A & Associates Inc.

Montag A & Associates Inc. lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,043 shares of the oil and gas company’s stock after purchasing an additional 1,414 shares during the quarter. Montag A & Associates Inc.’s holdings in Chevron were worth $6,736,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd raised its holdings in shares of 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 buying an additional 122 shares during the last quarter. Elequin Capital LP bought a new position in shares of Chevron in the first quarter valued at approximately $31,000. Quaker Wealth Management LLC increased its stake in shares of Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 439 shares during the period. Investment Management Corp VA ADV increased 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 period. Finally, IMG Wealth Management Inc. raised its holdings in Chevron by 52.3% during the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 0.4%

Shares of NYSE:CVX opened at $155.65 on Tuesday. 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 stock has a market capitalization of $268.96 billion, a PE ratio of 20.03, a P/E/G ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a fifty day moving average price of $155.45 and a 200 day moving average price of $149.92.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The company had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.48 earnings per share. Analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron’s dividend payout ratio is presently 96.20%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 3,978 shares of the firm’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 transaction, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on 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 in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research reports. Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 price target (down from $170.00) on shares of Chevron in a research note on Friday, October 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Piper Sandler lowered their price objective on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research note on Monday. Wells Fargo & Company started coverage on Chevron in a report on Friday, October 17th. They issued an “overweight” rating and a $190.00 target price on the stock. Finally, Mizuho cut their price target on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $165.45.

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.