M.E. Allison & CO. Inc. Buys 1,276 Shares of Chevron Corporation $CVX

M.E. Allison & CO. Inc. grew its stake in shares of Chevron Corporation (NYSE:CVX) by 12.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,137 shares of the oil and gas company’s stock after buying an additional 1,276 shares during the period. Chevron makes up 1.3% of M.E. Allison & CO. Inc.’s portfolio, making the stock its 20th biggest position. M.E. Allison & CO. Inc.’s holdings in Chevron were worth $1,595,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. GAMMA Investing LLC raised its position in shares of Chevron by 27.3% during 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 during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Chevron by 10.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,133,752 shares of the oil and gas company’s stock worth $189,666,000 after purchasing an additional 104,103 shares during the period. Missouri Trust & Investment Co raised its position in shares of Chevron by 0.8% during the first quarter. Missouri Trust & Investment Co now owns 20,009 shares of the oil and gas company’s stock worth $3,347,000 after purchasing an additional 150 shares during the period. Wilsey Asset Management Inc. raised its position in shares of Chevron by 0.4% during the first quarter. Wilsey Asset Management Inc. now owns 200,641 shares of the oil and gas company’s stock worth $33,565,000 after purchasing an additional 771 shares during the period. Finally, Grant Private Wealth Management Inc raised its position in Chevron by 13.2% in the 1st quarter. Grant Private Wealth Management Inc now owns 2,261 shares of the oil and gas company’s stock valued at $378,000 after buying an additional 264 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 1.7%

NYSE:CVX opened at $149.11 on Monday. The firm has a market capitalization of $257.66 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 1.93 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 stock’s 50 day moving average price is $156.10 and its two-hundred day moving average price is $148.41. 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 (NYSE:CVX) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping 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%.The business’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.55 EPS. Equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business 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. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. Chevron’s payout ratio is 88.03%.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The stock was 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 directly owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. Melius Research initiated coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Evercore ISI reissued an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Scotiabank lifted their target price on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Thursday. Morgan Stanley initiated 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. Finally, Barclays dropped their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $165.40.

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.