Chevron Co. (NYSE:CVX) Position Raised by Northwest Investment Counselors LLC

Northwest Investment Counselors LLC raised its stake in Chevron Co. (NYSE:CVX) by 35.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,898 shares of the oil and gas company’s stock after buying an additional 500 shares during the quarter. Northwest Investment Counselors LLC’s holdings in Chevron were worth $299,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Cantor Fitzgerald Investment Advisor L.P raised its stake in shares of Chevron by 85.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after purchasing an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC raised its stake in shares of Chevron by 25.2% during the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after purchasing an additional 1,476 shares in the last quarter. GQG Partners LLC raised its stake in shares of Chevron by 4.7% during the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after purchasing an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC raised its stake in shares of Chevron by 43.5% during the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock valued at $950,000 after purchasing an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Chevron by 13.8% during the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock valued at $336,830,000 after purchasing an additional 250,840 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total value of $603,300.00. Following the completion of the sale, the vice president now owns 1,718 shares of the company’s stock, valued at approximately $276,391.84. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total value of $603,300.00. Following the completion of the sale, the vice president now directly owns 1,718 shares in the company, valued at approximately $276,391.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Pierre R. Breber sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $164.00, for a total value of $4,100,000.00. Following the completion of the sale, the chief financial officer now owns 6,021 shares of the company’s stock, valued at $987,444. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Chevron Trading Up 0.4 %

NYSE:CVX opened at $167.22 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.13. Chevron Co. has a fifty-two week low of $140.46 and a fifty-two week high of $189.68. The stock’s 50-day moving average is $160.80 and its two-hundred day moving average is $160.15. The stock has a market cap of $312.24 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 0.88 and a beta of 1.18.

Chevron (NYSE:CVX) last released its earnings results on Friday, July 28th. The oil and gas company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.13. Chevron had a return on equity of 19.48% and a net margin of 13.54%. The company had revenue of $48.90 billion for the quarter, compared to analysts’ expectations of $48 billion. During the same quarter in the previous year, the business posted $5.82 EPS. The business’s revenue for the quarter was down 28.9% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Co. will post 13.23 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were paid a $1.51 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $6.04 annualized dividend and a dividend yield of 3.61%. Chevron’s payout ratio is 38.30%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVX. Piper Sandler dropped their price target on shares of Chevron from $196.00 to $188.00 in a research report on Tuesday, June 13th. JPMorgan Chase & Co. upgraded shares of Chevron from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $161.00 to $170.00 in a research report on Wednesday, May 31st. HSBC boosted their price target on shares of Chevron from $180.00 to $184.00 in a research report on Wednesday, August 9th. Truist Financial boosted their price target on shares of Chevron from $163.00 to $165.00 and gave the stock a “hold” rating in a research report on Monday, July 31st. Finally, Mizuho boosted their price target on shares of Chevron from $209.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.61.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.