Clune & Associates LTD. Acquires 198 Shares of Chevron Corporation $CVX

Clune & Associates LTD. boosted its stake in Chevron Corporation (NYSE:CVX) by 8.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,622 shares of the oil and gas company’s stock after purchasing an additional 198 shares during the period. Clune & Associates LTD.’s holdings in Chevron were worth $376,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ignite Planners LLC boosted its position in Chevron by 14.1% during the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock valued at $2,060,000 after acquiring an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. raised its position in shares of 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 worth $993,000 after acquiring an additional 495 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of 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 during the period. Capital Advisors Inc. OK boosted its position 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 valued at $95,231,000 after purchasing an additional 1,755 shares in the last quarter. Finally, GW&K Investment Management LLC grew its stake in Chevron by 33.8% during the first quarter. GW&K Investment Management LLC now owns 1,260 shares of the oil and gas company’s stock worth $211,000 after purchasing an additional 318 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated 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 directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated 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 sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Melius Research started coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Wells Fargo & Company began coverage on shares of Chevron in a research note on Friday. They set an “overweight” rating and a $190.00 target price on the stock. Morgan Stanley began coverage on shares of Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 price target for the company. Finally, UBS Group increased their price objective on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $165.25.

Chevron Stock Up 0.9%

Chevron stock opened at $154.53 on Tuesday. The firm has a market capitalization of $267.02 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84. The firm’s fifty day moving average price is $156.05 and its two-hundred day moving average price is $148.04. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last posted 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. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the business posted $2.55 EPS. The firm’s revenue was down 12.4% compared to the same quarter last year. On average, equities research analysts predict 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. Investors of record on Tuesday, August 19th were issued 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 4.4%. Chevron’s dividend payout ratio is 88.03%.

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.