Chevron Corporation $CVX Stock Position Increased by Miramar Capital LLC

Miramar Capital LLC raised its stake in shares of Chevron Corporation (NYSE:CVX) by 3.3% in the second quarter, Holdings Channel reports. The institutional investor owned 112,326 shares of the oil and gas company’s stock after buying an additional 3,549 shares during the quarter. Chevron accounts for about 3.8% of Miramar Capital LLC’s holdings, making the stock its 6th biggest position. Miramar Capital LLC’s holdings in Chevron were worth $16,084,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Raiffeisen Bank International AG raised its holdings in Chevron by 8.4% in the first quarter. Raiffeisen Bank International AG now owns 1,954 shares of the oil and gas company’s stock worth $325,000 after buying an additional 151 shares during the last quarter. Endowment Wealth Management Inc. bought a new stake in shares of Chevron during the first quarter valued at approximately $276,000. Bouchey Financial Group Ltd bought a new stake in shares of Chevron during the first quarter valued at approximately $220,000. Intrust Bank NA raised its holdings in Chevron by 4.1% in the 1st quarter. Intrust Bank NA now owns 37,536 shares of the oil and gas company’s stock worth $6,279,000 after acquiring an additional 1,494 shares during the last quarter. Finally, Planning Alternatives Ltd. ADV lifted its position in Chevron by 72.9% in the 1st quarter. Planning Alternatives Ltd. ADV now owns 3,048 shares of the oil and gas company’s stock valued at $510,000 after acquiring an additional 1,285 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

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

Chevron Trading Up 0.9%

Chevron stock opened at $151.58 on Thursday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a market cap of $305.20 billion, a P/E ratio of 21.32, a P/E/G ratio of 9.02 and a beta of 0.68. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $153.61 and a two-hundred day simple moving average of $151.43.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The company had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The firm’s revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.48 earnings per share. Analysts predict that Chevron Corporation will post 10.79 EPS for the current 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 given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron’s payout ratio is presently 96.20%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CVX. HSBC set a $169.00 price objective on Chevron and gave the company a “buy” rating in a research report on Monday. Melius initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Morgan Stanley lifted their price target on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Bank of America boosted 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. Finally, Scotiabank increased their price objective on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Hold” and an average price target of $166.16.

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.