CCM Investment Advisers LLC Acquires 401 Shares of Chevron Corporation $CVX

CCM Investment Advisers LLC grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,761 shares of the oil and gas company’s stock after acquiring an additional 401 shares during the period. CCM Investment Advisers LLC’s holdings in Chevron were worth $10,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CVX. Bank Pictet & Cie Europe AG grew its position in shares of Chevron by 7.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock valued at $5,212,000 after acquiring an additional 2,641 shares during the period. Two Sigma Investments LP increased its stake in Chevron by 84.5% in the 4th quarter. Two Sigma Investments LP now owns 35,171 shares of the oil and gas company’s stock worth $5,094,000 after buying an additional 16,104 shares in the last quarter. Virtue Capital Management LLC increased its stake in Chevron by 10.8% in the 4th quarter. Virtue Capital Management LLC now owns 3,223 shares of the oil and gas company’s stock worth $467,000 after buying an additional 314 shares in the last quarter. Capital A Wealth Management LLC purchased a new stake in Chevron in the 4th quarter worth $77,000. Finally, LifeWealth Investments LLC purchased a new stake in Chevron in the 4th quarter worth $211,000. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.8%

Shares of Chevron stock opened at $157.29 on Wednesday. The firm has a market cap of $271.80 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.96 and a beta of 0.90. The business has a 50-day moving average price of $155.46 and a 200-day moving average price of $149.02. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

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

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated 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 transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on CVX. Melius Research began coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Mizuho cut their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Scotiabank reiterated a “sector perform” rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Morgan Stanley began 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. Finally, Bank of America increased 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. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $165.05.

About Chevron

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.