Winthrop Advisory Group LLC Boosts Holdings in Chevron Corporation $CVX

Winthrop Advisory Group LLC raised its stake in shares of Chevron Corporation (NYSE:CVX) by 12.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,133 shares of the oil and gas company’s stock after purchasing an additional 557 shares during the period. Winthrop Advisory Group LLC’s holdings in Chevron were worth $735,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Kingstone Capital Partners Texas LLC lifted its stake in shares of Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after buying an additional 83,702,101 shares in the last quarter. GQG Partners LLC purchased a new position in Chevron during the first quarter worth approximately $1,466,751,000. Nuveen LLC purchased a new position in Chevron during the first quarter worth approximately $1,362,232,000. Charles Schwab Investment Management Inc. lifted its position in Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after buying an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Chevron by 141.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after acquiring an additional 1,107,628 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CVX. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a report on Friday, July 18th. UBS Group lifted their price target on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Scotiabank restated a “sector perform” rating and issued a $160.00 target price (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Evercore ISI restated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Finally, Melius initiated coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $165.15.

Chevron Stock Up 0.6%

Shares of NYSE:CVX opened at $154.92 on Wednesday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm’s 50-day moving average is $156.15 and its two-hundred day moving average is $148.84. The firm has a market capitalization of $267.70 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the prior year, the firm earned $2.55 EPS. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. Analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was 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. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

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.