Capital Advantage Inc. Buys 12,995 Shares of Chevron Corporation $CVX
Capital Advantage Inc. increased its stake in Chevron Corporation (NYSE:CVX) by 120.1% in Q2, acquiring an additional 12,995 shares, bringing its total to 23,819 shares valued at $3.41 million. Other institutional investors also adjusted their stakes in Chevron. The stock opened at $156.11, with a 12-month range of $132.04 to $168.96. Chevron reported Q2 earnings of $1.77 per share, exceeding estimates, and announced a quarterly dividend of $1.71. Insider trading activity included significant sales by Director John B. Hess and VP Alana K. Knowles.
Capital Advantage Inc. boosted its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 120.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,819 shares of the oil and gas company's stock after buying an additional 12,995 shares during the period. Capital Advantage Inc.'s holdings in Chevron were worth $3,411,000 at the end of the most recent reporting period.
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A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd boosted its stake in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP purchased a new stake in Chevron during the 1st quarter valued at $31,000. IFS Advisors LLC boosted its stake in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares during the last quarter. Cloud Capital Management LLC purchased a new stake in Chevron during the 1st quarter valued at $39,000. Finally, Investment Management Corp VA ADV boosted its stake in shares of Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock worth $39,000 after buying an additional 149 shares during the last quarter. Institutional investors own 72.42% of the company's stock.
Chevron Trading Down 1.7%
Shares of CVX stock opened at $156.11 on Friday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The stock's 50-day moving average price is $155.24 and its 200-day moving average price is $148.99. The stock has a market capitalization of $269.76 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 1.96 and a beta of 0.90.
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Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. During the same period in the previous year, the firm posted $2.55 earnings per share. The business's revenue was down 12.4% compared to the same quarter last year. Equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.
Chevron Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's payout ratio is 88.03%.
Insider Activity at Chevron
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In other Chevron news, Director John B. Hess sold 375,000 shares of the business's stock in a transaction that occurred on 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 directly owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Alana K. Knowles sold 3,978 shares of the business'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 value of $636,480.00. Following the sale, the vice president directly 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. Insiders own 0.21% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on CVX shares. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. UBS Group raised their price target on Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Barclays restated an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Bank of America raised their price target on Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Finally, Melius started coverage on Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $165.05.
View Our Latest Analysis on CVX
About Chevron
(Free Report)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.
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