Chevron Corporation $CVX Shares Purchased by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC grew its position in shares of Chevron Corporation (NYSE:CVX) by 4.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 37,471 shares of the oil and gas company’s stock after buying an additional 1,639 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Chevron were worth $5,365,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in CVX. GAMMA Investing LLC raised its holdings in shares of Chevron by 27.3% during the first quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock worth $5,408,000 after purchasing an additional 6,928 shares during the period. Beacon Financial Advisory LLC acquired a new position in shares of Chevron in the 1st quarter valued at about $225,000. Victrix Investment Advisors bought a new stake in shares of Chevron during the 1st quarter valued at about $448,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Chevron by 2.2% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 72,589 shares of the oil and gas company’s stock worth $12,143,000 after acquiring an additional 1,564 shares during the period. Finally, Old North State Wealth Management LLC lifted its holdings in Chevron by 7.4% in the first quarter. Old North State Wealth Management LLC now owns 3,780 shares of the oil and gas company’s stock worth $634,000 after acquiring an additional 260 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of the 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 completion of the sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly 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 disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CVX has been the subject of several recent research reports. UBS Group upped their target price on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Melius Research initiated coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Melius initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Bank of America increased their price target on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Finally, Piper Sandler lifted their price objective on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Hold” and an average price target of $165.25.

Chevron Stock Down 0.6%

CVX opened at $155.63 on Friday. 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 company has a market capitalization of $268.92 billion, a PE ratio of 20.03, a P/E/G ratio of 4.42 and a beta of 0.84. The stock’s fifty day moving average is $156.04 and its 200-day moving average is $148.46. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

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

Chevron Dividend Announcement

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

Chevron 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.