Chevron Co. (NYSE:CVX) Shares Bought by Corundum Group Inc.

Corundum Group Inc. grew its holdings in Chevron Co. (NYSE:CVX) by 79.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,724 shares of the oil and gas company’s stock after buying an additional 3,868 shares during the quarter. Corundum Group Inc.’s holdings in Chevron were worth $1,365,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Kapstone Financial Advisors LLC increased its holdings in shares of Chevron by 5.3% in the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after purchasing an additional 211 shares in the last quarter. Eagle Capital Management LLC lifted its position in shares of Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after acquiring an additional 163 shares during the period. Lane & Associates LLC purchased a new stake in shares of Chevron during the 1st quarter worth approximately $345,000. Guyasuta Investment Advisors Inc. grew its holdings in shares of Chevron by 1.7% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock worth $32,307,000 after acquiring an additional 3,603 shares during the period. Finally, Seven Mile Advisory grew its holdings in shares of Chevron by 9.8% in the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after acquiring an additional 247 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Chevron Trading Up 1.5 %

CVX stock traded up $2.15 on Thursday, hitting $146.82. 6,302,006 shares of the company were exchanged, compared to its average volume of 7,889,076. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a market capitalization of $270.58 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 2.42 and a beta of 1.10. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The business’s fifty day moving average is $154.00 and its two-hundred day moving average is $155.93.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the firm earned $3.08 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts forecast that Chevron Co. will post 11.96 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a $1.63 dividend. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.44%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analyst Ratings Changes

A number of analysts have commented on CVX shares. Barclays decreased their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Scotiabank dropped their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Piper Sandler lifted their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, TD Cowen lifted their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $183.82.

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.