MADDEN SECURITIES Corp Has $4.84 Million Stake in Chevron Corporation $CVX

MADDEN SECURITIES Corp grew its position in Chevron Corporation (NYSE:CVX) by 0.7% in the second quarter, HoldingsChannel.com reports. The fund owned 33,802 shares of the oil and gas company’s stock after buying an additional 226 shares during the quarter. Chevron comprises 1.6% of MADDEN SECURITIES Corp’s portfolio, making the stock its 19th biggest position. MADDEN SECURITIES Corp’s holdings in Chevron were worth $4,840,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Chevron by 2.1% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 9,633 shares of the oil and gas company’s stock valued at $1,611,000 after buying an additional 194 shares in the last quarter. City Center Advisors LLC acquired a new position in Chevron during the 1st quarter worth about $232,000. Priebe Wealth Holdings LLC grew its holdings in Chevron by 11.7% during the 1st quarter. Priebe Wealth Holdings LLC now owns 1,775 shares of the oil and gas company’s stock worth $297,000 after acquiring an additional 186 shares during the last quarter. Cherrydale Wealth Management LLC acquired a new stake in Chevron in the 1st quarter valued at about $244,000. Finally, Courier Capital LLC raised its stake in shares of Chevron by 0.5% in the first quarter. Courier Capital LLC now owns 62,072 shares of the oil and gas company’s stock worth $10,384,000 after acquiring an additional 302 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVX. Evercore ISI reiterated an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. UBS Group upped their price objective on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. TD Cowen increased their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Piper Sandler lifted their target price on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Finally, Mizuho cut their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $165.05.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $153.99 on Tuesday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. 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 stock has a market capitalization of $266.09 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 1.99 and a beta of 0.84. The firm has a fifty day moving average of $156.19 and a two-hundred day moving average of $148.80.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.55 earnings per share. As a group, equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron’s dividend payout ratio is 88.03%.

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.