TT Capital Management LLC Invests $3.92 Million in Chevron Corporation $CVX

TT Capital Management LLC bought a new stake in shares of Chevron Corporation (NYSE:CVX) in the second quarter, Holdings Channel reports. The institutional investor bought 27,780 shares of the oil and gas company’s stock, valued at approximately $3,920,000. Chevron comprises about 1.3% of TT Capital Management LLC’s holdings, making the stock its 19th biggest holding.

Other large investors also recently bought and sold shares of the company. Solitude Financial Services lifted its holdings in shares of Chevron by 8.2% in the 2nd quarter. Solitude Financial Services now owns 25,325 shares of the oil and gas company’s stock worth $3,626,000 after buying an additional 1,913 shares during the period. Shell Asset Management Co. raised its holdings in shares of Chevron by 21.4% in the second quarter. Shell Asset Management Co. now owns 51,115 shares of the oil and gas company’s stock valued at $7,319,000 after acquiring an additional 9,002 shares in the last quarter. Mutual Advisors LLC lifted its stake in Chevron by 7.3% in the second quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock worth $13,743,000 after acquiring an additional 6,058 shares during the period. Costello Asset Management INC grew its holdings in Chevron by 26.9% during the 2nd quarter. Costello Asset Management INC now owns 16,694 shares of the oil and gas company’s stock worth $2,390,000 after acquiring an additional 3,541 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its position in Chevron by 25.7% during the 1st quarter. Jones Financial Companies Lllp now owns 697,011 shares of the oil and gas company’s stock valued at $115,887,000 after purchasing an additional 142,662 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 275,000 shares of the business’s 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 sale, the director owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. The trade was a 19.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by company insiders.

Chevron Stock Performance

Shares of CVX opened at $149.95 on Monday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The firm has a market cap of $301.93 billion, a PE ratio of 21.09, a P/E/G ratio of 8.91 and a beta of 0.68. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a fifty day moving average price of $152.74 and a 200-day moving average price of $152.19.

Chevron (NYSE:CVX) last announced its earnings results 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. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The company had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same period in the prior year, the company posted $2.48 EPS. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. Equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were paid a $1.71 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.6%. Chevron’s dividend payout ratio (DPR) is 96.20%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CVX shares. Bank of America lowered their price target on shares of Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday. Morgan Stanley boosted their price objective 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Melius started coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Finally, HSBC set a $169.00 price objective on Chevron and gave the stock a “buy” rating in a research note on Monday, December 1st. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $166.00.

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.