Retirement Guys Formula LLC Boosts Stake in Chevron Corporation $CVX

Retirement Guys Formula LLC boosted its position in shares of Chevron Corporation (NYSE:CVX) by 13.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,155 shares of the oil and gas company’s stock after purchasing an additional 970 shares during the quarter. Retirement Guys Formula LLC’s holdings in Chevron were worth $1,168,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CVX. Two Sigma Investments LP boosted its position in Chevron by 84.5% during the fourth quarter. Two Sigma Investments LP now owns 35,171 shares of the oil and gas company’s stock worth $5,094,000 after purchasing an additional 16,104 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Chevron during the fourth quarter worth $103,000. Probity Advisors Inc. increased its stake in shares of Chevron by 3.4% during the 4th quarter. Probity Advisors Inc. now owns 3,260 shares of the oil and gas company’s stock valued at $472,000 after acquiring an additional 106 shares during the last quarter. Copia Wealth Management purchased a new stake in Chevron during the fourth quarter worth approximately $140,000. Finally, Old North State Trust LLC grew its position in shares of Chevron by 4.0% in the 4th quarter. Old North State Trust LLC now owns 2,652 shares of the oil and gas company’s stock worth $384,000 after acquiring an additional 103 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction on 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 sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of several recent analyst reports. TD Cowen lifted their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. UBS Group lifted their target price on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Finally, Scotiabank reissued a “sector perform” rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Hold” and an average price target of $165.05.

Chevron Stock Performance

Chevron stock opened at $159.15 on Thursday. 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 company has a market cap of $275.00 billion, a PE ratio of 20.48, a PEG ratio of 1.97 and a beta of 0.90. The company’s 50-day moving average is $155.64 and its two-hundred day moving average is $149.09. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period last year, the business earned $2.55 earnings per share. The firm’s revenue was down 12.4% on a year-over-year basis. Equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

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