Chevron Corporation $CVX Shares Purchased by Viewpoint Investment Partners Corp

Viewpoint Investment Partners Corp raised its stake in shares of Chevron Corporation (NYSE:CVX) by 327.4% in the 2nd quarter, Holdings Channel reports. 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 accounts for approximately 1.0% of Viewpoint Investment Partners Corp’s portfolio, making the stock its 22nd biggest position. Viewpoint Investment Partners Corp’s holdings in Chevron were worth $1,897,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Chevron by 652,139.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares during the period. Charles Schwab Investment Management Inc. raised its position in Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after buying an additional 1,574,464 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Chevron by 5.5% in the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock worth $2,652,437,000 after acquiring an additional 827,851 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Chevron by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after acquiring an additional 40,758 shares during the period. Finally, GQG Partners LLC purchased a new stake in shares of Chevron in the first quarter valued at about $1,466,751,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE CVX opened at $153.53 on Friday. The business has a 50 day moving average price of $156.26 and a 200 day moving average price of $149.14. The company has a market capitalization of $265.30 billion, a P/E ratio of 19.76, a PEG ratio of 1.97 and a beta of 0.84. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last posted its 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. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the company earned $2.55 earnings per share. Chevron’s revenue was down 12.4% compared to the same quarter last year. Sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is presently 88.03%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVX. Mizuho cut their price target on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Scotiabank reissued a “sector perform” rating and set a $160.00 target price (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Piper Sandler raised their price target on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Raymond James Financial restated an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $165.05.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at approximately $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 SEC, which is accessible 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 shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director directly 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 disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Chevron Company 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.