Solstein Capital LLC Increases Holdings in Chevron Corporation $CVX

Solstein Capital LLC lifted its position in shares of Chevron Corporation (NYSE:CVX) by 3.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,271 shares of the oil and gas company’s stock after buying an additional 70 shares during the period. Solstein Capital LLC’s holdings in Chevron were worth $325,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd increased its stake 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 worth $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP purchased a new position in Chevron in the 1st quarter worth approximately $31,000. Cloud Capital Management LLC purchased a new position in Chevron in the 1st quarter worth approximately $39,000. Investment Management Corp VA ADV increased its stake in 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 worth $39,000 after purchasing an additional 149 shares during the period. Finally, IMG Wealth Management Inc. increased its stake in Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 0.6%

NYSE CVX opened at $155.63 on Monday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a market capitalization of $268.92 billion, a PE ratio of 20.03, a P/E/G ratio of 4.42 and a beta of 0.84. The stock’s 50 day moving average is $156.04 and its 200 day moving average is $148.48.

Chevron (NYSE:CVX) last released its quarterly 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 period in the previous year, the company posted $2.55 earnings per share. The firm’s revenue was down 12.4% on a year-over-year basis. Research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s payout ratio is 88.03%.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Raymond James Financial reissued an “outperform” rating and set a $160.00 target price (down from $170.00) on shares of Chevron in a research note on Friday, October 17th. Barclays reduced their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. UBS Group boosted their target price on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Evercore ISI reissued an “outperform” rating and set a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron has an average rating of “Hold” and a consensus price target of $165.25.

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.