Salomon & Ludwin LLC Purchases 120 Shares of Chevron Corporation $CVX

Salomon & Ludwin LLC raised its stake in Chevron Corporation (NYSE:CVX) by 4.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,892 shares of the oil and gas company’s stock after buying an additional 120 shares during the period. Salomon & Ludwin LLC’s holdings in Chevron were worth $428,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC grew its position in shares of Chevron by 652,139.5% in the 2nd 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 buying an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after buying an additional 1,574,464 shares during the last quarter. Invesco Ltd. grew its position in shares of Chevron by 5.5% in the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after buying an additional 827,851 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of 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 purchasing an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC bought a new stake in shares of Chevron during the 1st quarter valued at about $1,466,751,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CVX. Raymond James Financial restated an “outperform” rating and set a $160.00 target price (down previously from $170.00) on shares of Chevron in a research report on Friday. Piper Sandler upped 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. Melius Research began coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Finally, Melius began coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $165.25.

Insider Buying and Selling

In other news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Chevron Stock Up 0.9%

CVX stock opened at $153.12 on Friday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average is $156.03 and its 200-day moving average is $148.02. The firm has a market capitalization of $264.58 billion, a PE ratio of 19.71, a P/E/G ratio of 2.01 and a beta of 0.84.

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

Chevron Announces Dividend

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

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.