Chevron Corporation $CVX Shares Purchased by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC boosted its holdings in shares of Chevron Corporation (NYSE:CVX) by 4.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 91,085 shares of the oil and gas company’s stock after buying an additional 3,685 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Chevron were worth $13,042,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Spartan Planning & Wealth Management acquired a new stake in shares of Chevron during the first quarter valued at about $484,000. Rothschild Investment LLC lifted its holdings in shares of Chevron by 0.5% in the 1st quarter. Rothschild Investment LLC now owns 135,143 shares of the oil and gas company’s stock worth $22,608,000 after acquiring an additional 660 shares during the last quarter. St. Louis Financial Planners Asset Management LLC purchased a new position in shares of Chevron during the 1st quarter worth approximately $2,535,000. Burns J W & Co. Inc. NY increased its holdings in Chevron by 3.1% in the 1st quarter. Burns J W & Co. Inc. NY now owns 79,641 shares of the oil and gas company’s stock valued at $13,323,000 after purchasing an additional 2,426 shares during the last quarter. Finally, Somerset Trust Co raised its position in Chevron by 2.5% in the first quarter. Somerset Trust Co now owns 15,120 shares of the oil and gas company’s stock valued at $2,529,000 after purchasing an additional 364 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of several research analyst reports. Scotiabank restated a “sector perform” rating and set a $160.00 price target (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Wells Fargo & Company reiterated an “overweight” rating and set a $178.00 price target on shares of Chevron in a research note on Friday, August 1st. Morgan Stanley assumed coverage on shares of Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective for the company. Finally, Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and an average target price of $165.05.

Chevron Stock Down 0.4%

CVX stock opened at $160.13 on Friday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company’s 50 day moving average price is $156.04 and its 200 day moving average price is $149.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The firm has a market capitalization of $276.70 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 2.01 and a beta of 0.90.

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

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given 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 currently 88.03%.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company’s 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 sale, the director directly 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% 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.