Apella Capital LLC Acquires 489 Shares of Chevron Co. (NYSE:CVX)

Apella Capital LLC grew its position in Chevron Co. (NYSE:CVX) by 6.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,035 shares of the oil and gas company’s stock after purchasing an additional 489 shares during the period. Apella Capital LLC’s holdings in Chevron were worth $1,229,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. American Capital Advisory LLC raised its holdings in shares of Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares during the period. Bare Financial Services Inc acquired a new stake in shares of Chevron during the fourth quarter worth $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth $30,000. Cooksen Wealth LLC acquired a new stake in shares of Chevron during the fourth quarter worth $40,000. Finally, Clear Investment Research LLC raised its holdings in shares of Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 204 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the topic of several recent research reports. Piper Sandler lifted their price target on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Wells Fargo & Company lifted their price target on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. TD Cowen lifted their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Truist Financial lowered their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Barclays lowered their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $183.82.

Chevron Stock Performance

Shares of CVX stock traded down $0.82 during midday trading on Wednesday, hitting $142.41. 8,645,269 shares of the company were exchanged, compared to its average volume of 7,913,795. The firm has a market capitalization of $262.46 billion, a P/E ratio of 13.23, a PEG ratio of 2.39 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The firm’s 50 day moving average price is $155.79 and its two-hundred day moving average price is $156.12. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.08 EPS. As a group, equities research analysts anticipate that Chevron Co. will post 12.45 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the transaction, the director now directly owns 27,725 shares in the company, valued at approximately $4,581,279. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the transaction, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

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.