Guyasuta Investment Advisors Inc. Purchases 5,148 Shares of Chevron Corporation $CVX

Guyasuta Investment Advisors Inc. raised its position in shares of Chevron Corporation (NYSE:CVX) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 258,599 shares of the oil and gas company’s stock after purchasing an additional 5,148 shares during the period. Chevron comprises 2.3% of Guyasuta Investment Advisors Inc.’s portfolio, making the stock its 12th biggest position. Guyasuta Investment Advisors Inc.’s holdings in Chevron were worth $37,029,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC raised its holdings in shares of Chevron by 652,139.5% during 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 during the last quarter. GQG Partners LLC purchased a new position in shares of Chevron during the first quarter worth $1,466,751,000. Nuveen LLC purchased a new position in Chevron in the first quarter valued at $1,362,232,000. Charles Schwab Investment Management Inc. raised its stake in Chevron by 4.9% in the first 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 buying an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Chevron by 141.2% during the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after purchasing an additional 1,107,628 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Transactions 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 value of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 shares were sold at an average price of $158.30, for a total transaction 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 $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CVX shares. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 price target on shares of Chevron in a research note on Friday, August 1st. Morgan Stanley began coverage on Chevron in a research report on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price on the stock. Piper Sandler increased their price target on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Eleven investment 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, Chevron has an average rating of “Hold” and an average target price of $165.05.

Chevron Trading Down 0.4%

Shares of NYSE:CVX opened at $160.13 on Friday. 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 12-month low of $132.04 and a 12-month high of $168.96. The firm has a fifty day moving average of $156.04 and a two-hundred day moving average of $149.13. The firm has a market capitalization of $276.70 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 2.01 and a beta of 0.90.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. The business 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%. Chevron’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.55 EPS. On average, equities analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

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.