Optima Capital LLC Purchases 108 Shares of Chevron Corporation $CVX

Optima Capital LLC lifted its position in shares of Chevron Corporation (NYSE:CVX) by 7.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,586 shares of the oil and gas company’s stock after acquiring an additional 108 shares during the quarter. Optima Capital LLC’s holdings in Chevron were worth $265,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. GDS Wealth Management raised its position in shares of Chevron by 4.4% during the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock worth $285,000 after acquiring an additional 72 shares during the last quarter. AIMZ Investment Advisors LLC raised its position in shares of Chevron by 4.2% during the first quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company’s stock worth $298,000 after acquiring an additional 72 shares during the last quarter. Clayton Financial Group LLC raised its position in shares of Chevron by 4.6% during the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock worth $285,000 after acquiring an additional 75 shares during the last quarter. Gill Capital Partners LLC raised its position in shares of Chevron by 4.9% during the first quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company’s stock worth $271,000 after acquiring an additional 75 shares during the last quarter. Finally, GK Wealth Management LLC raised its position in shares of Chevron by 2.5% during the first quarter. GK Wealth Management LLC now owns 3,074 shares of the oil and gas company’s stock worth $514,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of several recent research reports. Scotiabank restated a “sector perform” rating and issued a $160.00 price target (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Barclays restated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Melius initiated coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Wells Fargo & Company restated an “overweight” rating and issued a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Finally, Bank of America raised their price target on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday. 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, the company has a consensus rating of “Hold” and an average price target of $164.80.

Insiders Place Their Bets

In related news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction 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 owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their position. 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 the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $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 corporate insiders.

Chevron Price Performance

CVX opened at $158.26 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a fifty day simple moving average of $154.49 and a 200 day simple moving average of $148.88. The stock has a market cap of $273.47 billion, a P/E ratio of 20.37, a P/E/G ratio of 1.99 and a beta of 0.90.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter in the prior year, the company earned $2.55 EPS. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. On average, research analysts expect 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 given a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. Chevron’s dividend payout ratio is currently 88.03%.

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.