Chevron Co. (NYSE:CVX) Shares Acquired by Kathmere Capital Management LLC

Kathmere Capital Management LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 135.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,666 shares of the oil and gas company’s stock after purchasing an additional 2,110 shares during the period. Kathmere Capital Management LLC’s holdings in Chevron were worth $577,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVX. Rebalance LLC purchased a new position in Chevron during the 4th quarter worth $26,000. NewSquare Capital LLC boosted its holdings in shares of Chevron by 52.3% in the first quarter. NewSquare Capital LLC now owns 195 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 67 shares in the last quarter. Artemis Wealth Advisors LLC acquired a new position in shares of Chevron during the first quarter worth about $33,000. HBC Financial Services PLLC purchased a new position in Chevron during the first quarter worth about $37,000. Finally, Worth Asset Management LLC acquired a new stake in Chevron in the first quarter valued at about $36,000. 68.87% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.4 %

Chevron stock opened at $167.22 on Tuesday. The stock has a market cap of $312.24 billion, a PE ratio of 10.60, a P/E/G ratio of 0.88 and a beta of 1.18. The stock has a 50-day moving average price of $160.80 and a 200 day moving average price of $160.15. Chevron Co. has a 52 week low of $140.46 and a 52 week high of $189.68. The company has a current ratio of 1.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, July 28th. The oil and gas company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.13. The company had revenue of $48.90 billion for the quarter, compared to analysts’ expectations of $48 billion. Chevron had a net margin of 13.54% and a return on equity of 19.48%. The firm’s revenue for the quarter was down 28.9% compared to the same quarter last year. During the same period last year, the company earned $5.82 EPS. Equities research analysts predict that Chevron Co. will post 13.23 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders 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 yield of 3.61%. Chevron’s payout ratio is currently 38.30%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVX. StockNews.com started coverage on Chevron in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Morgan Stanley upped their price objective on Chevron from $197.00 to $198.00 and gave the stock an “equal weight” rating in a report on Friday, August 18th. Mizuho raised their target price on Chevron from $209.00 to $215.00 and gave the company a “buy” rating in a report on Monday. Truist Financial upped their price target on shares of Chevron from $163.00 to $165.00 and gave the stock a “hold” rating in a research note on Monday, July 31st. Finally, Royal Bank of Canada upgraded shares of Chevron from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $165.00 to $180.00 in a report on Thursday, June 1st. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $190.61.

Insider Buying and Selling at Chevron

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

Chevron Company 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.