SCS Capital Management LLC Buys 84,202 Shares of Chevron Corporation $CVX

SCS Capital Management LLC grew its stake in shares of Chevron Corporation (NYSE:CVX) by 238.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 119,477 shares of the oil and gas company’s stock after buying an additional 84,202 shares during the quarter. SCS Capital Management LLC’s holdings in Chevron were worth $17,108,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Marshall Wace LLP increased its holdings in Chevron by 76.7% in the 2nd quarter. Marshall Wace LLP now owns 1,534,575 shares of the oil and gas company’s stock worth $219,736,000 after purchasing an additional 666,071 shares in the last quarter. Allium Financial Advisors LLC bought a new stake in shares of Chevron during the second quarter worth about $237,000. Royal Fund Management LLC increased its stake in shares of Chevron by 11.0% in the second quarter. Royal Fund Management LLC now owns 22,764 shares of the oil and gas company’s stock valued at $3,260,000 after buying an additional 2,255 shares during the period. Great Diamond Partners LLC increased its stake in shares of Chevron by 215.0% in the second quarter. Great Diamond Partners LLC now owns 7,699 shares of the oil and gas company’s stock valued at $1,102,000 after buying an additional 5,255 shares during the period. Finally, Guggenheim Capital LLC increased its position in Chevron by 7.6% in the 2nd quarter. Guggenheim Capital LLC now owns 304,263 shares of the oil and gas company’s stock valued at $43,567,000 after acquiring an additional 21,430 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the sale, the director directly owned 1,128,045 shares in the company, valued at $170,052,783.75. This trade represents a 19.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.21% of the stock is owned by company insiders.

Chevron Price Performance

Shares of CVX opened at $152.21 on Friday. The firm has a market cap of $306.48 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 8.97 and a beta of 0.68. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The business’s 50 day moving average price is $153.43 and its two-hundred day moving average price is $151.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The company had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter last year, the firm posted $2.48 EPS. The company’s quarterly revenue was down 1.9% on a year-over-year basis. On average, equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders 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 annualized dividend and a dividend yield of 4.5%. Chevron’s dividend payout ratio is currently 96.20%.

Analyst Ratings Changes

CVX has been the subject of a number of recent research reports. Melius Research started coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. HSBC set a $169.00 price objective on Chevron and gave the stock a “buy” rating in a research note on Monday. Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Wells Fargo & Company raised their price target on shares of Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $166.16.

Chevron 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.