MGO One Seven LLC Raises Stake in Chevron Corporation $CVX

MGO One Seven LLC increased its stake in Chevron Corporation (NYSE:CVX) by 13.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 29,077 shares of the oil and gas company’s stock after buying an additional 3,353 shares during the quarter. MGO One Seven LLC’s holdings in Chevron were worth $4,164,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Greenfield Savings Bank boosted its position in Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after purchasing an additional 68 shares during the period. Atwater Malick LLC boosted its position in Chevron by 2.4% during the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 68 shares during the period. Hubbell Strickland Wealth Management LLC boosted its position in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock worth $1,443,000 after purchasing an additional 68 shares during the period. Capital Advisors Ltd. LLC boosted its position in Chevron by 4.1% during the second quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company’s stock worth $260,000 after purchasing an additional 71 shares during the period. Finally, GDS Wealth Management boosted its position in Chevron by 4.4% during the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock worth $285,000 after purchasing an additional 72 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the company’s 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 owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Up 2.0%

CVX stock opened at $151.86 on Tuesday. 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 company’s 50 day moving average is $156.12 and its 200 day moving average is $148.31. The stock has a market cap of $262.42 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 company had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.55 earnings per share. Sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio is 88.03%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research reports. Bank of America increased their target price on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Melius Research began coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Chevron has an average rating of “Hold” and a consensus target price of $165.40.

Chevron Company 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.