Astoria Portfolio Advisors LLC. Raises Stock Holdings in Chevron Corporation $CVX

Astoria Portfolio Advisors LLC. lifted its holdings in Chevron Corporation (NYSE:CVX) by 7.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,131 shares of the oil and gas company’s stock after buying an additional 151 shares during the quarter. Astoria Portfolio Advisors LLC.’s holdings in Chevron were worth $332,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC grew its stake 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 worth $13,214,757,000 after purchasing an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Chevron by 4.9% in 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 purchasing an additional 1,574,464 shares in the last quarter. Invesco Ltd. grew its stake in Chevron by 5.5% in the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock worth $2,652,437,000 after purchasing an additional 827,851 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Chevron by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock valued at $2,054,513,000 after acquiring an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC bought a new stake in Chevron during the 1st quarter valued at $1,466,751,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on CVX shares. Evercore ISI reaffirmed an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Morgan Stanley started coverage on Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price on the stock. Piper Sandler increased their target price on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Chevron presently has an average rating of “Hold” and a consensus price target of $165.40.

Chevron Stock Performance

Shares of CVX opened at $151.86 on Tuesday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a fifty day moving average price of $156.12 and a 200-day moving average price of $148.31. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm has a market cap of $262.42 billion, a PE ratio of 19.54, a P/E/G ratio of 1.93 and a beta of 0.84.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 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 during the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the business posted $2.55 EPS. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. Equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron’s dividend payout ratio (DPR) is 88.03%.

Insiders Place Their Bets

In related news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was 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 in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

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.