Strong Tower Advisory Services Has $2.82 Million Stock Holdings in Chevron Corporation $CVX

Strong Tower Advisory Services boosted its holdings in shares of Chevron Corporation (NYSE:CVX) by 5.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,695 shares of the oil and gas company’s stock after buying an additional 1,002 shares during the period. Strong Tower Advisory Services’ holdings in Chevron were worth $2,820,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd grew its stake in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares in the last quarter. Elequin Capital LP bought a new stake in shares of Chevron in the 1st quarter worth $31,000. Cloud Capital Management LLC bought a new stake in shares of Chevron in the 1st quarter worth $39,000. Investment Management Corp VA ADV grew its stake in shares of Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 149 shares in the last quarter. Finally, GFG Capital LLC bought a new stake in shares of Chevron in the 2nd quarter worth $42,000. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction 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 trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hess sold 375,000 shares of the 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 $222,102,023.50. This 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.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. 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 target price for the company. Wells Fargo & Company restated an “overweight” rating and set a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Bank of America increased their price target on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Evercore ISI restated an “outperform” rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Finally, Raymond James Financial restated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Chevron has a consensus rating of “Hold” and an average price target of $165.40.

Chevron Price Performance

Shares of NYSE:CVX opened at $149.11 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. The firm has a market capitalization of $257.66 billion, a PE ratio of 19.19, a P/E/G ratio of 1.95 and a beta of 0.84. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a 50-day moving average price of $156.10 and a two-hundred day moving average price of $148.67.

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

Chevron Announces Dividend

The firm also recently announced 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 4.6%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

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.