Emerald Advisors LLC Raises Holdings in Chevron Corporation $CVX

Emerald Advisors LLC raised its position in shares of Chevron Corporation (NYSE:CVX) by 15.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,673 shares of the oil and gas company’s stock after buying an additional 1,008 shares during the period. Emerald Advisors LLC’s holdings in Chevron were worth $1,099,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. Harvest Fund Management Co. Ltd boosted its position in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares during the period. Elequin Capital LP purchased a new position in shares of Chevron during the first quarter worth $31,000. IFS Advisors LLC boosted its position in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after buying an additional 116 shares during the period. Cloud Capital Management LLC purchased a new position in shares of Chevron during the first quarter worth $39,000. Finally, Investment Management Corp VA ADV boosted its position in shares of Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after buying an additional 149 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on CVX shares. TD Cowen raised their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Evercore ISI reiterated an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Mizuho reduced their price objective on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. UBS Group increased their price objective on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $165.05.

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was 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 approximately $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $156.13 on Tuesday. The firm has a market capitalization of $269.79 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. The business’s fifty day moving average price is $156.17 and its 200 day moving average price is $149.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion for 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%.Chevron’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.55 earnings per share. On average, sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued 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 dividend yield of 4.4%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

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.