SouthState Corp Buys 1,422 Shares of Chevron Co. (NYSE:CVX)

SouthState Corp boosted its holdings in shares of Chevron Co. (NYSE:CVXGet Rating) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,818 shares of the oil and gas company’s stock after buying an additional 1,422 shares during the period. SouthState Corp’s holdings in Chevron were worth $12,345,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Your Advocates Ltd. LLP purchased a new stake in shares of Chevron in the first quarter valued at about $25,000. Rational Advisors LLC increased its holdings in Chevron by 116.3% during the fourth quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company’s stock worth $26,000 after buying an additional 121 shares during the last quarter. Curi Wealth Management LLC purchased a new stake in Chevron during the fourth quarter worth about $30,000. Joseph P. Lucia & Associates LLC purchased a new stake in Chevron during the first quarter worth about $30,000. Finally, Landmark Wealth Management LLC purchased a new stake in Chevron during the first quarter worth about $34,000. Institutional investors and hedge funds own 65.89% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mark A. Nelson sold 117,400 shares of Chevron stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total value of $18,721,778.00. Following the transaction, the executive vice president now directly owns 788 shares of the company’s stock, valued at $125,662.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider David A. Inchausti sold 5,600 shares of Chevron stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $164.85, for a total value of $923,160.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark A. Nelson sold 117,400 shares of Chevron stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total transaction of $18,721,778.00. Following the completion of the sale, the executive vice president now owns 788 shares in the company, valued at approximately $125,662.36. The disclosure for this sale can be found here. Insiders have sold a total of 399,043 shares of company stock valued at $67,010,843 over the last three months. 0.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVX. Cowen cut their target price on shares of Chevron from $179.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, July 1st. Piper Sandler cut their price objective on shares of Chevron from $213.00 to $189.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. Royal Bank of Canada lowered shares of Chevron from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $160.00 to $165.00 in a research report on Thursday, April 21st. Societe Generale upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company raised their price objective on shares of Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $173.00.

Chevron Trading Down 2.7 %

CVX stock opened at $151.14 on Friday. The company has a market capitalization of $296.96 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 0.63 and a beta of 1.15. Chevron Co. has a one year low of $92.86 and a one year high of $182.40. The company’s 50 day moving average price is $154.86 and its two-hundred day moving average price is $155.19. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43.

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

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Friday, August 19th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Thursday, August 18th. Chevron’s payout ratio is 37.89%.

About Chevron

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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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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