Galvin Gaustad & Stein LLC Purchases 2,442 Shares of Chevron Corporation $CVX

Galvin Gaustad & Stein LLC raised its position in Chevron Corporation (NYSE:CVX) by 3.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 74,959 shares of the oil and gas company’s stock after buying an additional 2,442 shares during the quarter. Galvin Gaustad & Stein LLC’s holdings in Chevron were worth $10,733,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd increased its holdings in Chevron by 420.7% in the 1st 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 period. Elequin Capital LP bought a new position in Chevron in the 1st quarter valued at about $31,000. Cloud Capital Management LLC acquired a new stake in shares of Chevron in the 1st quarter valued at approximately $39,000. Investment Management Corp VA ADV boosted its stake in shares of Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares in the last quarter. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Chevron in the 1st quarter valued at approximately $45,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 1.4%

NYSE:CVX opened at $151.63 on Friday. The firm’s 50 day simple moving average is $156.15 and its 200 day simple moving average is $148.79. 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 Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a market cap of $262.02 billion, a PE ratio of 19.51, a P/E/G ratio of 1.98 and a beta of 0.84.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same period last year, the company earned $2.55 EPS. The firm’s revenue was down 12.4% compared to the same quarter last year. On average, research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 77.11% decrease in their position. 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 firm’s stock in a transaction that occurred 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 transaction, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Scotiabank raised their price target on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday. Melius assumed 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. Piper Sandler raised their price target 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. Finally, Raymond James Financial restated an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $165.40.

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.