Advocate Group LLC Purchases 1,484 Shares of Chevron Corporation $CVX

Advocate Group LLC raised its position in Chevron Corporation (NYSE:CVX) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,546 shares of the oil and gas company’s stock after purchasing an additional 1,484 shares during the quarter. Chevron accounts for about 1.7% of Advocate Group LLC’s holdings, making the stock its 17th biggest holding. Advocate Group LLC’s holdings in Chevron were worth $9,386,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CVX. Kingstone Capital Partners Texas LLC raised its position in Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares during the last quarter. GQG Partners LLC bought a new position in shares of Chevron during the first quarter worth about $1,466,751,000. Nuveen LLC bought a new position in shares of Chevron during the first quarter worth about $1,362,232,000. Charles Schwab Investment Management Inc. raised its position in shares of Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after acquiring an additional 1,574,464 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Chevron by 141.2% during the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after acquiring an additional 1,107,628 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Down 1.7%

NYSE CVX opened at $149.11 on Friday. The business has a 50 day simple moving average of $156.10 and a 200 day simple moving average of $148.54. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The stock has a market capitalization of $257.66 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.92 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping 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 business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter last year, the firm posted $2.55 earnings per share. The firm’s revenue was down 12.4% on a year-over-year basis. Research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is 88.03%.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the firm’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 value 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 trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the firm’s 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 $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.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Evercore ISI restated an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Raymond James Financial restated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Scotiabank raised their price objective on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday. Finally, TD Cowen raised their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Chevron currently has an average rating of “Hold” and an average target price of $165.40.

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.