Capstone Financial Advisors Inc. Raises Stock Holdings in Chevron Corporation $CVX

Capstone Financial Advisors Inc. raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 21.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,840 shares of the oil and gas company’s stock after purchasing an additional 667 shares during the quarter. Capstone Financial Advisors Inc.’s holdings in Chevron were worth $550,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd raised its holdings in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 122 shares in the last quarter. Elequin Capital LP bought a new stake in shares of Chevron in the 1st quarter worth about $31,000. Quaker Wealth Management LLC raised its stake in shares of Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares in the last quarter. IMG Wealth Management Inc. lifted its position in shares of Chevron by 52.3% during the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares during the last quarter. Finally, Investment Management Corp VA ADV grew its stake in Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 149 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on CVX shares. TD Cowen upped their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Melius Research started coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Raymond James Financial restated an “outperform” rating and set a $160.00 price objective (down from $170.00) on shares of Chevron in a research note on Friday, October 17th. Evercore ISI reiterated an “outperform” rating and set a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Finally, Piper Sandler dropped their target price on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a report on Monday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $166.25.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business’s 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 owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value 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 trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

Chevron Stock Up 1.4%

Chevron stock opened at $155.42 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a 50-day simple moving average of $155.19 and a 200-day simple moving average of $150.10. The firm has a market capitalization of $312.95 billion, a P/E ratio of 20.00, a P/E/G ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (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 posted $2.48 EPS. Chevron’s revenue was down 1.9% on a year-over-year basis. As a group, equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

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

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.