Secure Asset Management LLC Acquires 2,609 Shares of Chevron Corporation $CVX

Secure Asset Management LLC raised its stake in Chevron Corporation (NYSE:CVX) by 16.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,899 shares of the oil and gas company’s stock after buying an additional 2,609 shares during the period. Secure Asset Management LLC’s holdings in Chevron were worth $3,859,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Gemmer Asset Management LLC boosted its stake in shares of Chevron by 1.1% during the 3rd quarter. Gemmer Asset Management LLC now owns 4,254 shares of the oil and gas company’s stock worth $869,000 after acquiring an additional 47 shares in the last quarter. First PREMIER Bank grew its holdings in shares of Chevron by 0.8% in the 2nd quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company’s stock worth $1,070,000 after acquiring an additional 50 shares during the last quarter. Vanguard Capital Wealth Advisors raised its position in shares of Chevron by 1.8% during the second quarter. Vanguard Capital Wealth Advisors now owns 2,818 shares of the oil and gas company’s stock worth $467,000 after purchasing an additional 50 shares during the period. Nautilus Advisors LLC raised its position in shares of Chevron by 2.8% during the third quarter. Nautilus Advisors LLC now owns 1,859 shares of the oil and gas company’s stock worth $380,000 after purchasing an additional 50 shares during the period. Finally, Virginia Estate & Retirement Planning Advisors Inc. raised its position in shares of Chevron by 20.8% during the third quarter. Virginia Estate & Retirement Planning Advisors Inc. now owns 290 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 50 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.6%

Chevron stock opened at $225.67 on Wednesday. The company has a 50 day moving average price of $208.76 and a 200 day moving average price of $193.71. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $227.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The firm has a market capitalization of $445.87 billion, a price-to-earnings ratio of 21.64, a P/E/G ratio of 0.61 and a beta of 0.53.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. During the same period in the previous year, the company posted $1.77 EPS. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. Research analysts forecast that Chevron Corporation will post 17.71 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were given a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is 68.26%.

Insiders Place Their Bets

In other news, Director John Hess sold 100,000 shares of Chevron stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the transaction, the director owned 178,045 shares in the company, valued at approximately $34,587,021.70. The trade was a 35.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Wirth sold 317,100 shares of Chevron stock in a transaction on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the transaction, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is currently owned by corporate insiders.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Brent crude rose above $110 per barrel and reached a five-month high as renewed U.S.-Israel tensions with Iran increased fears of Middle East supply disruptions. Higher oil prices typically support Chevron’s upstream revenue and cash flow. Chevron, ExxonMobil Stocks Hit 52-Week Highs
• Positive Sentiment: Chevron’s possible expansion in Venezuela could eventually lift production to roughly 600,000 barrels per day, more than doubling current output. The country’s low production costs could create significant long-term profit potential, although execution and political conditions remain important. Chevron Is Pouring Billions Into Venezuela
• Positive Sentiment: Analysts have raised Chevron earnings estimates, citing higher oil prices, Permian production growth, lower development costs and disciplined capital spending. Bakken changes and portfolio adjustments are also being viewed as ways to improve efficiency and cash flow. Earnings Estimates Moving Higher for Chevron
• Positive Sentiment: Chevron continues to receive favorable investor attention, including a bullish Goldman Sachs view and increased holdings by prominent investors. Articles also highlight potential benefits from Venezuela and Greece-related deals, spare refining capacity and possible Iraqi oil opportunities. Chevron Stock Nears a 52-Week High

Analyst Ratings Changes

Several equities research analysts have recently commented on CVX shares. Argus upped their target price on Chevron from $206.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Royal Bank Of Canada lifted their price target on Chevron from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, September 24th. HSBC set a $90.00 price target on Chevron in a research note on Friday, September 25th. Raymond James Financial cut their price objective on Chevron from $230.00 to $225.00 and set an “outperform” rating on the stock in a report on Tuesday, July 21st. Finally, UBS Group upped their price objective on shares of Chevron from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $213.96.

Chevron Company Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.