Richmond Investment Services LLC Makes New $266,000 Investment in Chevron Corporation $CVX

Richmond Investment Services LLC bought a new stake in Chevron Corporation (NYSE:CVX) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 1,856 shares of the oil and gas company’s stock, valued at approximately $266,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Analyst IMS Investment Management Services Ltd. raised its stake in shares of Chevron by 1.0% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock worth $966,000 after acquiring an additional 67 shares during the last quarter. Greenfield Savings Bank grew its stake in shares of Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after purchasing an additional 68 shares during the last quarter. Atwater Malick LLC increased its holdings in shares of Chevron by 2.4% in the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after purchasing an additional 68 shares in the last quarter. Hubbell Strickland Wealth Management LLC increased its holdings in shares of Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock valued at $1,443,000 after purchasing an additional 68 shares in the last quarter. Finally, Clarity Wealth Advisors LLC raised its position in Chevron by 1.7% in the 2nd quarter. Clarity Wealth Advisors LLC now owns 4,170 shares of the oil and gas company’s stock worth $597,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the business’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 completion of the transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

Chevron Trading Up 0.8%

NYSE CVX opened at $149.72 on Thursday. The stock has a 50-day simple moving average of $154.25 and a 200 day simple moving average of $151.10. The company has a market capitalization of $301.47 billion, a PE ratio of 19.27, a P/E/G ratio of 4.40 and a beta of 0.83. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion for 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 company’s revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.48 earnings per share. Research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be issued a dividend of $1.71 per share. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.6%. Chevron’s payout ratio is currently 96.20%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. TD Cowen upped their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Zacks Research cut Chevron from a “hold” rating to a “strong sell” rating in a report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Finally, Barclays cut their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Ten analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus target price of $165.58.

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.