Pure Financial Advisors LLC Increases Stock Holdings in Chevron Corporation $CVX

Pure Financial Advisors LLC lifted its position in shares of Chevron Corporation (NYSE:CVX) by 8.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 21,765 shares of the oil and gas company’s stock after acquiring an additional 1,713 shares during the period. Pure Financial Advisors LLC’s holdings in Chevron were worth $3,117,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. CCG Wealth Management LLC raised its holdings in shares of Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after acquiring an additional 145 shares during the last quarter. Ignite Planners LLC increased its position in Chevron by 14.1% during the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after purchasing an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. raised its stake in Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after purchasing an additional 495 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Chevron by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock valued at $24,075,000 after purchasing an additional 675 shares in the last quarter. Finally, Capital Advisors Inc. OK boosted its stake in shares of Chevron by 0.3% during the 1st quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock worth $95,231,000 after purchasing an additional 1,755 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction 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 transaction, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Alana K. Knowles sold 3,978 shares of the 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 sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Chevron Trading Down 0.4%

Shares of CVX opened at $154.64 on Thursday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a market capitalization of $267.21 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 1.97 and a beta of 0.84. 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 stock’s fifty day simple moving average is $156.31 and its 200 day simple moving average is $149.17.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. The company 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 firm’s revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.55 earnings per share. On average, equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s payout ratio is 88.03%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CVX shares. TD Cowen boosted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Piper Sandler lifted their target price on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Melius started coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Morgan Stanley began coverage on Chevron in a research report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective for the company. Finally, Scotiabank reiterated a “sector perform” rating and set a $160.00 target price (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Hold” and a consensus price target of $165.05.

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.