Chevron Corporation $CVX Shares Bought by Stephens Inc. AR

Stephens Inc. AR increased its stake in shares of Chevron Corporation (NYSE:CVX) by 2.9% in the first quarter, HoldingsChannel.com reports. The firm owned 268,036 shares of the oil and gas company’s stock after buying an additional 7,568 shares during the period. Chevron accounts for approximately 0.7% of Stephens Inc. AR’s portfolio, making the stock its 26th largest holding. Stephens Inc. AR’s holdings in Chevron were worth $55,516,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. United Bank lifted its stake in Chevron by 7.7% during the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after acquiring an additional 796 shares in the last quarter. Schnieders Capital Management LLC. grew its position in Chevron by 9.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock valued at $7,280,000 after acquiring an additional 4,214 shares in the last quarter. BNP Paribas increased its stake in Chevron by 76.4% during the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after purchasing an additional 191 shares during the period. Osterweis Capital Management Inc. increased its stake in Chevron by 678.9% during the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock worth $195,000 after purchasing an additional 1,188 shares during the period. Finally, Main Street Financial Solutions LLC lifted its position in shares of Chevron by 3.6% during the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after purchasing an additional 553 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 2.6%

Shares of NYSE CVX traded up $4.33 during midday trading on Tuesday, hitting $172.43. 1,394,530 shares of the company’s stock were exchanged, compared to its average volume of 11,591,144. The firm’s fifty day simple moving average is $183.31 and its 200-day simple moving average is $180.61. The company has a market cap of $343.41 billion, a PE ratio of 29.90, a P/E/G ratio of 0.57 and a beta of 0.50. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.18 earnings per share. Research analysts predict that Chevron Corporation will post 15.52 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is presently 123.40%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Piper Sandler raised their price target on shares of Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Mizuho increased their price objective on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price for the company in a research note on Friday, April 17th. Zacks Research lowered Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Nineteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $205.71.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.56% of the company’s stock.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.