Silicon Valley Capital Partners Increases Holdings in Chevron Corporation $CVX

Silicon Valley Capital Partners lifted its position in shares of Chevron Corporation (NYSE:CVX) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,915 shares of the oil and gas company’s stock after buying an additional 149 shares during the quarter. Silicon Valley Capital Partners’ holdings in Chevron were worth $1,148,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd grew its stake 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 valued at $25,000 after purchasing an additional 122 shares during the last quarter. 10Elms LLP bought a new stake in shares of Chevron in the 4th quarter valued at about $29,000. Elequin Capital LP purchased a new position in shares of Chevron in the 1st quarter worth approximately $31,000. IFS Advisors LLC lifted its position in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC purchased a new stake in shares of Chevron during the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.9%

CVX opened at $157.76 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The business’s 50-day simple moving average is $154.29 and its 200-day simple moving average is $148.88. The stock has a market capitalization of $272.60 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 2.30 and a beta of 0.90.

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

Chevron Dividend Announcement

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

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CVX shares. Melius Research initiated coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Morgan Stanley began coverage on shares of Chevron in a research note on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective on the stock. Wells Fargo & Company restated an “overweight” rating and set a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Finally, Scotiabank reissued a “sector perform” rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $164.80.

Chevron Company 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.