Stack Financial Management Inc Takes Position in Chevron Corporation $CVX

Stack Financial Management Inc purchased a new stake in shares of Chevron Corporation (NYSE:CVX) during the second quarter, Holdings Channel reports. The institutional investor purchased 263,390 shares of the oil and gas company’s stock, valued at approximately $43,660,000. Chevron makes up approximately 3.4% of Stack Financial Management Inc’s portfolio, making the stock its 6th biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Midwest Capital Advisors LLC purchased a new stake in shares of Chevron during the first quarter worth $25,000. Main Street Group LTD bought a new position in shares of Chevron in the first quarter worth $28,000. Phillip James Consulting Co. purchased a new position in shares of Chevron in the fourth quarter valued at $26,000. Core Wealth Advisors LLC purchased a new position in shares of Chevron in the fourth quarter valued at $26,000. Finally, Karpus Management Inc. purchased a new position in shares of Chevron in the fourth quarter valued at $27,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Chevron stock opened at $199.99 on Friday. The firm’s fifty day moving average price is $183.30 and its 200-day moving average price is $186.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The stock has a market cap of $395.13 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71.

Chevron (NYSE:CVX) last released its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. During the same quarter in the prior year, the firm earned $1.77 earnings per share. The firm’s revenue was up 57.4% on a year-over-year basis. On average, equities research analysts expect that Chevron Corporation will post 15.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio is presently 68.26%.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 710,665 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total value of $137,940,076.50. Following the completion of the sale, the director owned 363,711 shares in the company, valued at $70,596,305.10. The trade was a 66.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael K. Wirth sold 5,547 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total value of $1,037,289.00. Following the completion of the sale, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at approximately $4,919,596. This represents a 17.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,196,212 shares of company stock valued at $231,819,366 over the last quarter. Company insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $216.00 target price on shares of Chevron in a report on Wednesday, May 6th. Wolfe Research upgraded Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Thursday, July 2nd. Scotiabank upped their price target on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, TD Cowen increased their price target on shares of Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Twenty investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $207.48.

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.