Addison Capital Co Purchases 362 Shares of Chevron Corporation $CVX

Addison Capital Co increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,266 shares of the oil and gas company’s stock after buying an additional 362 shares during the quarter. Addison Capital Co’s holdings in Chevron were worth $1,383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd raised its position in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares during the period. 10Elms LLP acquired a new position in shares of Chevron in the 4th quarter valued at approximately $29,000. Elequin Capital LP bought a new stake in Chevron during the 1st quarter worth approximately $31,000. IFS Advisors LLC raised its holdings in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after buying an additional 116 shares during the period. Finally, Cloud Capital Management LLC acquired a new stake in Chevron during the 1st quarter worth approximately $39,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CVX has been the subject of several research analyst reports. Melius began coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Morgan Stanley initiated coverage on Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price for the company. Scotiabank reissued a “sector perform” rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, Melius Research assumed coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $164.80.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business’s 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 transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were 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 of the company’s stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Chevron Stock Up 1.9%

Shares of CVX stock opened at $157.76 on Thursday. 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. The firm’s fifty day moving average price is $154.29 and its two-hundred day moving average price is $148.88. The firm has a market capitalization of $272.60 billion, a P/E ratio of 20.30, a PEG ratio of 2.30 and a beta of 0.90.

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

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.3%. Chevron’s dividend payout ratio is 88.03%.

Chevron Profile

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.