Cim Investment Management Inc. Has $1.89 Million Position in Chevron Corporation $CVX

Cim Investment Management Inc. lifted its stake in Chevron Corporation (NYSE:CVX) by 99.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,127 shares of the oil and gas company’s stock after buying an additional 6,552 shares during the period. Cim Investment Management Inc.’s holdings in Chevron were worth $1,891,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. Elequin Capital LP bought a new stake in shares of Chevron in the 1st quarter worth approximately $31,000. Quaker Wealth Management LLC lifted its position in Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares during the period. Vermillion & White Wealth Management Group LLC boosted its stake in Chevron by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after buying an additional 118 shares in the last quarter. IMG Wealth Management Inc. increased its holdings in Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 91 shares during the period. Finally, GFG Capital LLC bought a new stake in Chevron in the 2nd quarter valued at $42,000. 72.42% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the transaction, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. This represents a 19.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CVX shares. Wall Street Zen upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Hsbc Global Res raised Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Scotiabank upped their price objective 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 increased their target price on Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Bank of America cut their target price on Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $166.00.

Chevron Stock Performance

NYSE:CVX opened at $149.95 on Monday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a 50 day moving average of $152.74 and a 200-day moving average of $152.19. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $301.93 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 8.91 and a beta of 0.68.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The business had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same period in the prior year, the company earned $2.48 EPS. Chevron’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were paid a $1.71 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. Chevron’s dividend payout ratio (DPR) is 96.20%.

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; 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.