Farther Finance Advisors LLC Grows Stock Holdings in Chevron Corporation $CVX

Farther Finance Advisors LLC lifted its position in shares of Chevron Corporation (NYSE:CVX) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,662 shares of the oil and gas company’s stock after purchasing an additional 4,372 shares during the period. Farther Finance Advisors LLC’s holdings in Chevron were worth $13,555,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Kingstone Capital Partners Texas LLC boosted its stake in Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after acquiring an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 acquiring an additional 1,574,464 shares during the period. Invesco Ltd. lifted its position 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 raised its holdings in shares of Chevron by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after acquiring an additional 40,758 shares during the last quarter. Finally, GQG Partners LLC acquired a new position in shares of Chevron in the first quarter worth $1,466,751,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

NYSE CVX opened at $156.11 on Friday. The company has a 50-day moving average price of $155.24 and a two-hundred day moving average price of $148.99. The stock has a market cap 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. Chevron Corporation has a 52 week low of $132.04 and a 52 week 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.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.55 EPS. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s dividend payout ratio is currently 88.03%.

Analysts Set New Price Targets

Several research firms have commented on CVX. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Evercore ISI reissued an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Melius assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. Finally, Mizuho reduced their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $165.05.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were 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 approximately $222,102,023.50. This 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 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.