ProShare Advisors LLC Has $229.32 Million Holdings in Chevron Corporation $CVX

ProShare Advisors LLC raised its position in shares of Chevron Corporation (NYSE:CVX) by 5.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,601,515 shares of the oil and gas company’s stock after acquiring an additional 81,832 shares during the period. ProShare Advisors LLC’s holdings in Chevron were worth $229,321,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Ignite Planners LLC lifted its holdings in shares of Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after purchasing an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. increased its stake in 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 valued at $993,000 after buying an additional 495 shares during the last quarter. GW&K Investment Management LLC increased its position in shares of Chevron by 33.8% during the 1st quarter. GW&K Investment Management LLC now owns 1,260 shares of the oil and gas company’s stock valued at $211,000 after purchasing an additional 318 shares during the last quarter. Mutual Advisors LLC increased its holdings in Chevron by 7.3% during the second quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock worth $13,743,000 after buying an additional 6,058 shares during the last quarter. Finally, Costello Asset Management INC increased its holdings in Chevron by 26.9% during the second quarter. Costello Asset Management INC now owns 16,694 shares of the oil and gas company’s stock worth $2,390,000 after buying an additional 3,541 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Chevron stock opened at $155.10 on Monday. 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. The firm has a market capitalization of $268.01 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. The firm’s 50 day simple moving average is $155.55 and its 200 day simple moving average is $149.80.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. During the same period in the previous year, the business earned $2.48 EPS. 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 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio is 96.20%.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on 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 completion of the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction 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 directly 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 is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CVX. UBS Group increased their target price on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Scotiabank boosted their target price on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Evercore ISI reaffirmed an “outperform” rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Piper Sandler lifted their price objective on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Finally, Bank of America upped their price objective on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $165.40.

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.