Chevron Corporation $CVX Shares Acquired by West Family Investments Inc.

West Family Investments Inc. lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 101.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,374 shares of the oil and gas company’s stock after buying an additional 4,722 shares during the period. West Family Investments Inc.’s holdings in Chevron were worth $1,342,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC boosted its position in 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 valued at $13,214,757,000 after purchasing an additional 83,702,101 shares during the period. Norges Bank bought a new position in shares of Chevron during the second quarter worth about $2,721,477,000. GQG Partners LLC acquired a new stake in shares of Chevron in the 1st quarter worth about $1,466,751,000. Nuveen LLC bought a new stake in Chevron in the 1st quarter valued at about $1,362,232,000. Finally, Laurel Wealth Advisors LLC lifted its position in Chevron by 14,194.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock valued at $532,984,000 after purchasing an additional 3,696,177 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chevron

In related news, Director John B. Hess sold 275,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director directly owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. TD Cowen increased their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Piper Sandler lowered their target price on Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research report on Monday, November 10th. Zacks Research downgraded Chevron from a “hold” rating to a “strong sell” rating in a research note on Monday, November 24th. Finally, Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Ten equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Chevron currently has an average rating of “Hold” and a consensus price target of $165.58.

Chevron Stock Up 1.1%

CVX opened at $151.21 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. The company has a market capitalization of $304.46 billion, a PE ratio of 19.46, a P/E/G ratio of 4.40 and a beta of 0.83. The stock’s fifty day moving average is $153.97 and its 200-day moving average is $151.16. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the business posted $2.48 earnings per share. On average, equities analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

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 paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron’s payout ratio 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.