Old Port Advisors Raises Stock Holdings in Chevron Co. (NYSE:CVX)

Old Port Advisors boosted its holdings in Chevron Co. (NYSE:CVXGet Rating) by 16.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,963 shares of the oil and gas company’s stock after buying an additional 2,593 shares during the quarter. Chevron accounts for approximately 1.0% of Old Port Advisors’ holdings, making the stock its 29th biggest position. Old Port Advisors’ holdings in Chevron were worth $2,563,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CVX. Clarity Financial LLC boosted its stake in Chevron by 2.2% in the 1st quarter. Clarity Financial LLC now owns 2,790 shares of the oil and gas company’s stock worth $454,000 after purchasing an additional 61 shares during the period. SYM FINANCIAL Corp boosted its position in shares of Chevron by 3.4% during the 1st quarter. SYM FINANCIAL Corp now owns 1,895 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 62 shares during the last quarter. LCM Capital Management Inc boosted its position in shares of Chevron by 0.9% during the 1st quarter. LCM Capital Management Inc now owns 7,306 shares of the oil and gas company’s stock valued at $1,190,000 after acquiring an additional 63 shares during the last quarter. Matrix Private Capital Group LLC boosted its position in shares of Chevron by 0.3% during the 1st quarter. Matrix Private Capital Group LLC now owns 20,229 shares of the oil and gas company’s stock valued at $3,294,000 after acquiring an additional 64 shares during the last quarter. Finally, John G Ullman & Associates Inc. boosted its position in shares of Chevron by 1.1% during the 1st quarter. John G Ullman & Associates Inc. now owns 6,002 shares of the oil and gas company’s stock valued at $977,000 after acquiring an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 69.30% of the company’s stock.

Chevron Price Performance

Shares of CVX stock opened at $156.45 on Monday. Chevron Co. has a 1-year low of $93.31 and a 1-year high of $182.40. The stock’s 50-day moving average is $154.36 and its 200 day moving average is $160.41. The company has a market cap of $307.39 billion, a P/E ratio of 10.44, a PEG ratio of 0.60 and a beta of 1.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.11.

Chevron (NYSE:CVXGet Rating) last issued its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $1.16. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The company had revenue of $68.76 billion for the quarter, compared to the consensus estimate of $57.69 billion. During the same quarter last year, the company earned $1.71 earnings per share. The firm’s revenue for the quarter was up 82.9% compared to the same quarter last year. Research analysts predict that Chevron Co. will post 18.4 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Thursday, August 18th. Chevron’s payout ratio is currently 37.89%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Cowen increased their target price on Chevron from $119.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, August 15th. Citigroup lowered their target price on Chevron from $170.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 13th. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and lowered their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 20th. Cowen raised their price target on Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, August 15th. Finally, Piper Sandler raised their price target on Chevron from $189.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, September 12th. One 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $169.20.

Insiders Place Their Bets

In related news, EVP James William Johnson sold 85,300 shares of Chevron stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $164.01, for a total transaction of $13,990,053.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chevron news, CFO Pierre R. Breber sold 22,500 shares of the business’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $158.11, for a total transaction of $3,557,475.00. Following the transaction, the chief financial officer now owns 7 shares of the company’s stock, valued at $1,106.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James William Johnson sold 85,300 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $164.01, for a total value of $13,990,053.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 141,732 shares of company stock valued at $23,024,499. 0.32% of the stock is currently owned by corporate insiders.

Chevron Company Profile

(Get Rating)

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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