Stevens Capital Management LP Takes Position in Chevron Corporation $CVX

Stevens Capital Management LP purchased a new position in shares of Chevron Corporation (NYSE:CVX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,208 shares of the oil and gas company’s stock, valued at approximately $2,178,000.

Several other large investors have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC raised its stake in shares of Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after buying an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after acquiring an additional 1,574,464 shares during the period. Franklin Resources Inc. raised its position in Chevron by 2.1% in the second quarter. Franklin Resources Inc. now owns 17,764,589 shares of the oil and gas company’s stock worth $2,543,712,000 after acquiring an additional 370,287 shares in the last quarter. Invesco Ltd. raised its position in Chevron by 5.5% in the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock worth $2,652,437,000 after acquiring an additional 827,851 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Chevron by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock valued at $2,054,513,000 after acquiring an additional 40,758 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the business’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 value of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Morgan Stanley upped their target price on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Raymond James Financial reaffirmed an “outperform” rating and issued a $160.00 target price (down from $170.00) on shares of Chevron in a report on Friday, October 17th. Scotiabank boosted their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Finally, Bank of America raised their price objective on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Chevron presently has an average rating of “Hold” and an average price target of $166.55.

Chevron Price Performance

Shares of NYSE:CVX opened at $149.93 on Friday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The stock has a market cap of $301.89 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. The business’s fifty day moving average price is $154.83 and its two-hundred day moving average price is $150.74. 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 (NYSE:CVX) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.48 earnings per share. On average, analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

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.