Ironwood Investment Counsel LLC Purchases 545 Shares of Chevron Corporation $CVX

Ironwood Investment Counsel LLC raised its position in Chevron Corporation (NYSE:CVX) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,246 shares of the oil and gas company’s stock after acquiring an additional 545 shares during the period. Ironwood Investment Counsel LLC’s holdings in Chevron were worth $2,326,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in CVX. National Pension Service raised its stake in Chevron by 4.0% in the second quarter. National Pension Service now owns 3,461,940 shares of the oil and gas company’s stock valued at $495,715,000 after buying an additional 133,868 shares during the last quarter. Glynn Capital Management LLC acquired a new position in Chevron during the 2nd quarter valued at approximately $843,000. Advyzon Investment Management LLC lifted its stake in shares of Chevron by 27.2% during the second quarter. Advyzon Investment Management LLC now owns 4,688 shares of the oil and gas company’s stock worth $671,000 after buying an additional 1,003 shares during the period. Winch Advisory Services LLC increased its position in shares of Chevron by 2.4% in the 2nd quarter. Winch Advisory Services LLC now owns 6,663 shares of the oil and gas company’s stock valued at $954,000 after acquiring an additional 158 shares during the period. Finally, Fagan Associates Inc. raised its stake in Chevron by 1.4% in the 2nd quarter. Fagan Associates Inc. now owns 70,187 shares of the oil and gas company’s stock worth $10,050,000 after acquiring an additional 958 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

Chevron Price Performance

NYSE:CVX opened at $156.05 on Wednesday. The stock has a market capitalization of $269.65 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average price is $155.33 and its 200-day moving average price is $150.04.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. The company had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the company earned $2.48 earnings per share. As a group, equities analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a $1.71 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio (DPR) is 96.20%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Chevron from $174.00 to $177.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Barclays cut their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Bank of America upped their price target on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Piper Sandler reduced their price objective on Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Raymond James Financial restated an “outperform” rating and issued a $160.00 target price (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $165.45.

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.