Continental Investors Services Inc. Raises Stock Holdings in Chevron Corporation $CVX

Continental Investors Services Inc. raised its position in Chevron Corporation (NYSE:CVX) by 4.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,701 shares of the oil and gas company’s stock after purchasing an additional 80 shares during the period. Continental Investors Services Inc.’s holdings in Chevron were worth $244,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its stake in shares of Chevron by 3.1% during the 1st quarter. Golden State Wealth Management LLC now owns 7,835 shares of the oil and gas company’s stock worth $1,311,000 after purchasing an additional 239 shares during the period. North Capital Inc. purchased a new position in shares of Chevron during the 1st quarter worth $99,000. Castle Wealth Management LLC lifted its position in Chevron by 10.6% during the first quarter. Castle Wealth Management LLC now owns 6,920 shares of the oil and gas company’s stock worth $1,158,000 after buying an additional 666 shares during the period. Checchi Capital Advisers LLC lifted its position in Chevron by 4.5% during the first quarter. Checchi Capital Advisers LLC now owns 22,227 shares of the oil and gas company’s stock worth $3,718,000 after buying an additional 953 shares during the period. Finally, Davidson Trust Co. lifted its position in Chevron by 0.5% during the first quarter. Davidson Trust Co. now owns 26,160 shares of the oil and gas company’s stock worth $4,376,000 after buying an additional 131 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John B. Hess sold 375,000 shares of the firm’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 directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were 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 approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CVX. Bank of America increased their target price on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Melius assumed coverage on shares of Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective on the stock. Scotiabank increased their price objective on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Wells Fargo & Company started coverage on shares of Chevron in a research note on Friday, October 17th. They set an “overweight” rating and a $190.00 price target on the stock. Finally, Piper Sandler increased their price target on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $165.25.

Chevron Stock Performance

Shares of CVX stock opened at $157.58 on Friday. The company’s fifty day simple moving average is $156.07 and its 200-day simple moving average is $149.00. Chevron Corporation has a 52 week low of $132.04 and a 52 week 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. The company has a market cap of $272.30 billion, a PE ratio of 20.28, a P/E/G ratio of 4.40 and a beta of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $49.73 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same period last year, the company posted $2.48 earnings per share. The firm’s revenue was down 1.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 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.