Westover Capital Advisors LLC Buys 14,252 Shares of Chevron Corporation $CVX

Westover Capital Advisors LLC increased its stake in shares of Chevron Corporation (NYSE:CVX) by 233.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 20,344 shares of the oil and gas company’s stock after purchasing an additional 14,252 shares during the period. Westover Capital Advisors LLC’s holdings in Chevron were worth $2,913,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after buying an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after acquiring an additional 1,574,464 shares in the last quarter. Invesco Ltd. increased its holdings in Chevron by 5.5% during the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock worth $2,652,437,000 after acquiring an additional 827,851 shares during the period. Dimensional Fund Advisors LP lifted its stake in Chevron by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after purchasing an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC bought a new position in Chevron in the 1st quarter valued at $1,466,751,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $154.93 on Tuesday. The company has a 50-day simple moving average of $155.28 and a two-hundred day simple moving average of $150.53. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The firm has a market capitalization of $311.96 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. During the same quarter in the prior year, the company earned $2.48 EPS. The business’s revenue was down 1.9% compared to the same quarter last year. On average, analysts anticipate 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 will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, November 18th. Chevron’s payout ratio is 96.20%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CVX shares. Bank of America upped their price target on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Melius began coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Mizuho boosted their price target on shares of Chevron from $191.00 to $204.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. Wall Street Zen upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Piper Sandler cut their price objective on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a research note on Monday, November 10th. 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 stock. Based on data from MarketBeat, Chevron currently has an average rating of “Hold” and an average price target of $166.55.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president owned 1,181 shares in the company, 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 can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was 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.

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.