HC Advisors LLC Buys New Shares in Chevron Co. (NYSE:CVX)

HC Advisors LLC purchased a new stake in shares of Chevron Co. (NYSE:CVXGet Rating) during the first quarter, HoldingsChannel reports. The institutional investor purchased 2,997 shares of the oil and gas company’s stock, valued at approximately $488,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in Chevron by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 32,250,237 shares of the oil and gas company’s stock valued at $3,776,323,000 after buying an additional 667,875 shares in the last quarter. Norges Bank acquired a new position in Chevron during the fourth quarter valued at approximately $3,111,594,000. Charles Schwab Investment Management Inc. lifted its position in Chevron by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,507,398 shares of the oil and gas company’s stock valued at $1,702,446,000 after buying an additional 254,353 shares in the last quarter. Invesco Ltd. lifted its position in Chevron by 6.8% during the fourth quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock valued at $1,689,870,000 after buying an additional 917,773 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Chevron by 4.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,326,228 shares of the oil and gas company’s stock valued at $977,069,000 after buying an additional 346,881 shares in the last quarter. 65.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CVX. Cowen reduced their price target on shares of Chevron from $179.00 to $160.00 and set an “outperform” rating on the stock in a research report on Friday, July 1st. Wells Fargo & Company boosted their target price on shares of Chevron from $181.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, August 1st. Raymond James boosted their target price on shares of Chevron from $173.00 to $191.00 and gave the stock an “outperform” rating in a research report on Monday, April 18th. Cowen reduced their target price on shares of Chevron from $179.00 to $160.00 and set an “outperform” rating on the stock in a research report on Friday, July 1st. Finally, Citigroup reduced their target price on shares of Chevron from $170.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $173.00.

Chevron Price Performance

Shares of NYSE:CVX opened at $153.64 on Friday. The company has a market cap of $301.87 billion, a PE ratio of 10.25, a P/E/G ratio of 0.61 and a beta of 1.15. Chevron Co. has a fifty-two week low of $92.86 and a fifty-two week high of $182.40. The firm has a 50-day simple moving average of $154.37 and a 200 day simple moving average of $155.35. The company has a quick ratio of 1.22, a current ratio of 1.43 and a debt-to-equity ratio of 0.20.

Chevron (NYSE:CVXGet Rating) last issued its earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $1.16. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The company had revenue of $68.76 billion during the quarter, compared to the consensus estimate of $57.69 billion. During the same period in the previous year, the firm posted $1.71 earnings per share. Chevron’s quarterly revenue was up 82.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Chevron Co. will post 17.51 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 19th will be paid a $1.42 dividend. The ex-dividend date is Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a yield of 3.70%. Chevron’s payout ratio is currently 37.89%.

Insider Buying and Selling at Chevron

In other Chevron news, EVP Mark A. Nelson sold 117,400 shares of Chevron stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $159.47, for a total value of $18,721,778.00. Following the completion of the transaction, the executive vice president now directly owns 788 shares in the company, valued at $125,662.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Chevron news, EVP Mark A. Nelson sold 117,400 shares of Chevron stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $159.47, for a total value of $18,721,778.00. Following the completion of the transaction, the executive vice president now directly owns 788 shares in the company, valued at $125,662.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Wanda M. Austin sold 12,039 shares of Chevron stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $177.29, for a total value of $2,134,394.31. Following the sale, the director now directly owns 3,543 shares in the company, valued at approximately $628,138.47. The disclosure for this sale can be found here. Insiders sold a total of 399,043 shares of company stock worth $67,010,843 over the last ninety days. Company insiders own 0.32% of the company’s stock.

Chevron Company Profile

(Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

See Also

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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