Chevron Corporation $CVX Stake Boosted by City Center Advisors LLC

City Center Advisors LLC increased its position in shares of Chevron Corporation (NYSE:CVX) by 52.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,108 shares of the oil and gas company’s stock after purchasing an additional 723 shares during the quarter. City Center Advisors LLC’s holdings in Chevron were worth $302,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GDS Wealth Management lifted its stake in Chevron by 4.4% in the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock valued at $285,000 after buying an additional 72 shares during the last quarter. AIMZ Investment Advisors LLC lifted its stake in Chevron by 4.2% in the first quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company’s stock valued at $298,000 after buying an additional 72 shares during the last quarter. Clayton Financial Group LLC lifted its stake in Chevron by 4.6% in the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock valued at $285,000 after buying an additional 75 shares during the last quarter. Gill Capital Partners LLC lifted its stake in Chevron by 4.9% in the first quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company’s stock valued at $271,000 after buying an additional 75 shares during the last quarter. Finally, GK Wealth Management LLC lifted its stake in Chevron by 2.5% in the first quarter. GK Wealth Management LLC now owns 3,074 shares of the oil and gas company’s stock valued at $514,000 after buying an additional 75 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Alana K. Knowles sold 3,978 shares of the 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of the 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 transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CVX shares. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Barclays reiterated an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Evercore ISI reiterated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Piper Sandler raised their target price on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Finally, Scotiabank reissued a “sector perform” rating and set a $160.00 price target (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $164.80.

Chevron Price Performance

Shares of CVX opened at $157.23 on Friday. The firm has a market capitalization of $271.69 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. 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 stock’s fifty day moving average is $154.67 and its 200-day moving average is $148.89.

Chevron (NYSE:CVX) last issued its quarterly earnings results 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. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period last year, the company earned $2.55 earnings per share. Equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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 $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 4.4%. Chevron’s dividend payout ratio (DPR) is 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.