Chevron Corporation $CVX Stock Holdings Increased by Carmel Capital Partners LLC

Carmel Capital Partners LLC lifted its stake in Chevron Corporation (NYSE:CVX) by 21.4% in the second quarter, Holdings Channel.com reports. The firm owned 3,184 shares of the oil and gas company’s stock after acquiring an additional 562 shares during the quarter. Carmel Capital Partners LLC’s holdings in Chevron were worth $456,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd increased its holdings in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares during the last quarter. Elequin Capital LP acquired a new position in Chevron in the first quarter worth approximately $31,000. Cloud Capital Management LLC acquired a new position in Chevron in the first quarter worth approximately $39,000. Investment Management Corp VA ADV increased its holdings in Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after buying an additional 149 shares during the last quarter. Finally, GFG Capital LLC acquired a new position in Chevron in the second quarter worth approximately $42,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction 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 sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction 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 sale, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Chevron Trading Up 0.9%

Shares of Chevron stock opened at $153.12 on Friday. The company’s fifty day simple moving average is $156.03 and its 200-day simple moving average is $148.15. The company has a market cap of $264.58 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.00 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter last year, the company posted $2.55 earnings per share. Chevron’s quarterly revenue was down 12.4% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron’s payout ratio is currently 88.03%.

Analysts Set New Price Targets

Several analysts recently issued reports on CVX shares. Mizuho decreased their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Morgan Stanley started coverage on shares of Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective for the company. Barclays decreased their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Piper Sandler upped their price objective on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $165.25.

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.