Ceera Investments LLC Invests $998,000 in Chevron Corporation $CVX

Ceera Investments LLC acquired a new position in shares of Chevron Corporation (NYSE:CVX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,972 shares of the oil and gas company’s stock, valued at approximately $998,000.

A number of other large investors also recently modified their holdings of the business. Telos Capital Management Inc. boosted its stake in shares of Chevron by 7.9% during the 2nd quarter. Telos Capital Management Inc. now owns 107,940 shares of the oil and gas company’s stock worth $15,456,000 after buying an additional 7,872 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new position in shares of Chevron during the 2nd quarter worth about $244,000. Integrity Financial Corp WA lifted its stake in Chevron by 18.7% in the 2nd quarter. Integrity Financial Corp WA now owns 1,951 shares of the oil and gas company’s stock valued at $279,000 after purchasing an additional 308 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its stake in Chevron by 44.1% in the 2nd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 7,332 shares of the oil and gas company’s stock valued at $1,050,000 after purchasing an additional 2,244 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its stake in Chevron by 1.4% in the 2nd quarter. Plato Investment Management Ltd now owns 45,068 shares of the oil and gas company’s stock valued at $6,430,000 after purchasing an additional 632 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Evercore ISI reiterated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Mizuho cut their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Morgan Stanley assumed coverage on shares of Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price for the company. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $160.00 target price (down from $170.00) on shares of Chevron in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Hold” and an average target price of $165.25.

Chevron Stock Up 2.6%

Chevron stock opened at $157.58 on Monday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company’s 50-day moving average price is $156.07 and its two-hundred day moving average price is $149.20. The stock has a market cap of $272.30 billion, a P/E ratio of 20.28, a P/E/G ratio of 4.40 and a beta of 0.84. 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 announced its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $49.73 billion for the quarter, compared to analysts’ expectations of $46.99 billion. During the same period last year, the firm earned $2.48 earnings per share. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by company insiders.

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.