Vestor Capital LLC Grows Stock Holdings in Chevron Corporation $CVX

Vestor Capital LLC grew its holdings in Chevron Corporation (NYSE:CVX) by 3,518.0% during the second quarter, HoldingsChannel.com reports. The fund owned 46,455 shares of the oil and gas company’s stock after purchasing an additional 45,171 shares during the quarter. Vestor Capital LLC’s holdings in Chevron were worth $6,652,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. J. L. Bainbridge & Co. Inc. raised its position in Chevron by 1.9% in the second quarter. J. L. Bainbridge & Co. Inc. now owns 4,291 shares of the oil and gas company’s stock valued at $614,000 after purchasing an additional 80 shares during the period. Quantum Private Wealth LLC boosted its position in shares of Chevron by 2.7% in the second quarter. Quantum Private Wealth LLC now owns 3,696 shares of the oil and gas company’s stock worth $529,000 after buying an additional 97 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 4.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock valued at $4,979,255,000 after buying an additional 1,342,723 shares in the last quarter. Enterprise Financial Services Corp raised its holdings in shares of Chevron by 3.5% during the 2nd quarter. Enterprise Financial Services Corp now owns 7,818 shares of the oil and gas company’s stock valued at $1,119,000 after buying an additional 268 shares during the period. Finally, Pettyjohn Wood & White Inc. lifted its position in Chevron by 2.3% during the 2nd quarter. Pettyjohn Wood & White Inc. now owns 48,310 shares of the oil and gas company’s stock worth $6,918,000 after acquiring an additional 1,105 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX opened at $149.93 on Friday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm has a market cap of $301.89 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 4.40 and a beta of 0.83. The stock has a 50 day moving average of $154.83 and a 200-day moving average of $150.85.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.48 EPS. As a group, analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. Chevron’s payout ratio is 96.20%.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CVX. Bank of America increased their price objective on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Scotiabank raised their target price on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Mizuho boosted their price target on Chevron from $191.00 to $204.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. UBS Group raised their price objective on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Finally, Melius Research began coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $166.55.

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.