Sonata Capital Group Inc. Has $289,000 Holdings in Chevron Corporation $CVX

Sonata Capital Group Inc. increased its stake in shares of Chevron Corporation (NYSE:CVX) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,020 shares of the oil and gas company’s stock after purchasing an additional 100 shares during the period. Sonata Capital Group Inc.’s holdings in Chevron were worth $289,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. LifeWealth Investments LLC grew its stake in shares of Chevron by 112.1% during the second quarter. LifeWealth Investments LLC now owns 4,643 shares of the oil and gas company’s stock worth $665,000 after purchasing an additional 2,454 shares during the period. Granite Harbor Advisors Inc. grew its stake in Chevron by 21.7% in the second quarter. Granite Harbor Advisors Inc. now owns 3,332 shares of the oil and gas company’s stock valued at $477,000 after acquiring an additional 593 shares during the period. Freedom Investment Management Inc. grew its stake in Chevron by 13.1% in the second quarter. Freedom Investment Management Inc. now owns 8,245 shares of the oil and gas company’s stock valued at $1,181,000 after acquiring an additional 957 shares during the period. Forum Financial Management LP grew its stake in Chevron by 0.4% in the second quarter. Forum Financial Management LP now owns 33,007 shares of the oil and gas company’s stock valued at $4,726,000 after acquiring an additional 145 shares during the period. Finally, Greatmark Investment Partners Inc. grew its stake in Chevron by 10.8% in the second quarter. Greatmark Investment Partners Inc. now owns 32,129 shares of the oil and gas company’s stock valued at $4,601,000 after acquiring an additional 3,130 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John B. Hess sold 375,000 shares of the company’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 sale, the director 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 legal filing with the SEC, which is accessible through this hyperlink. 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 value of $636,480.00. Following the sale, the vice president owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CVX shares. Melius Research started coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Bank of America boosted their target price on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Mizuho decreased their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Evercore ISI reissued an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Finally, TD Cowen boosted their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chevron has an average rating of “Hold” and an average target price of $165.25.

Chevron Stock Performance

Shares of Chevron stock opened at $155.45 on Thursday. The firm has a market cap of $268.61 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 2.05 and a beta of 0.84. The stock’s 50-day moving average is $156.03 and its 200-day moving average is $148.13. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The company 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 company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.55 earnings per share. Equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced 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. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio is presently 88.03%.

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.