JB Capital LLC Increases Stake in Chevron Corporation $CVX

JB Capital LLC raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 3.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,421 shares of the oil and gas company’s stock after buying an additional 140 shares during the period. JB Capital LLC’s holdings in Chevron were worth $633,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. GAMMA Investing LLC increased its stake in shares of Chevron by 27.3% in the first quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock worth $5,408,000 after purchasing an additional 6,928 shares in the last quarter. Zhang Financial LLC increased its stake in shares of Chevron by 58.4% in the first quarter. Zhang Financial LLC now owns 5,507 shares of the oil and gas company’s stock worth $921,000 after purchasing an additional 2,030 shares in the last quarter. Thomasville National Bank increased its stake in shares of Chevron by 7.7% in the first quarter. Thomasville National Bank now owns 6,057 shares of the oil and gas company’s stock worth $1,013,000 after purchasing an additional 433 shares in the last quarter. Legacy Trust increased its stake in shares of Chevron by 3.9% in the first quarter. Legacy Trust now owns 3,250 shares of the oil and gas company’s stock worth $544,000 after purchasing an additional 121 shares in the last quarter. Finally, BTS Asset Management Inc. purchased a new stake in shares of Chevron in the first quarter worth $218,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CVX shares. Piper Sandler increased their price objective 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. Barclays dropped their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday. Raymond James Financial restated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Melius Research assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Finally, Mizuho dropped their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Chevron has an average rating of “Hold” and a consensus target price of $165.40.

Chevron Price Performance

CVX stock opened at $149.11 on Friday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $156.10 and a two-hundred day simple moving average of $148.67. The firm has a market capitalization of $257.66 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings data 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. 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 analyst estimates of $44.59 billion. During the same quarter last year, the business earned $2.55 earnings per share. Chevron’s quarterly revenue was down 12.4% compared to the same quarter last year. Analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.6%. Chevron’s dividend payout ratio (DPR) is 88.03%.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

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.