Ellsworth Advisors LLC Has $6.73 Million Holdings in Chevron Corporation $CVX

Ellsworth Advisors LLC raised its position in shares of Chevron Corporation (NYSE:CVX) by 5.5% in the first quarter, HoldingsChannel reports. The firm owned 40,216 shares of the oil and gas company’s stock after buying an additional 2,085 shares during the quarter. Chevron makes up 1.8% of Ellsworth Advisors LLC’s investment portfolio, making the stock its 8th largest position. Ellsworth Advisors LLC’s holdings in Chevron were worth $6,728,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after purchasing an additional 1,574,464 shares during the period. Invesco Ltd. grew its stake in shares of Chevron by 5.5% during the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after acquiring an additional 827,851 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Chevron by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock valued at $2,054,513,000 after acquiring an additional 40,758 shares during the period. GQG Partners LLC bought a new position in shares of Chevron during the 1st quarter valued at approximately $1,466,751,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Chevron by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,497,288 shares of the oil and gas company’s stock valued at $1,421,511,000 after acquiring an additional 573,072 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CVX shares. UBS Group boosted their price objective on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Bank of America boosted their price objective on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley started coverage on Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 price target for the company. Eleven 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.com, the company presently has a consensus rating of “Hold” and an average target price of $164.80.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the company’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 transaction of $636,480.00. Following the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the company’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 value of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Chevron Stock Up 1.9%

Shares of CVX opened at $157.76 on Thursday. The stock has a market capitalization of $272.60 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 2.30 and a beta of 0.90. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The business’s 50 day simple moving average is $154.29 and its 200-day simple moving average is $148.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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. The business had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.55 EPS. As a group, equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is 88.03%.

Chevron 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.