Schnieders Capital Management LLC Has $7.28 Million Stake in Chevron Corporation $CVX

Schnieders Capital Management LLC raised its holdings in Chevron Corporation (NYSE:CVX) by 9.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 50,839 shares of the oil and gas company’s stock after purchasing an additional 4,214 shares during the quarter. Chevron accounts for approximately 1.3% of Schnieders Capital Management LLC’s portfolio, making the stock its 19th largest position. Schnieders Capital Management LLC’s holdings in Chevron were worth $7,280,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CVX. Kingstone Capital Partners Texas LLC boosted 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 worth $13,214,757,000 after purchasing an additional 83,702,101 shares during the last quarter. GQG Partners LLC acquired a new position in Chevron in the first quarter valued at about $1,466,751,000. Nuveen LLC bought a new position in Chevron during the first quarter worth about $1,362,232,000. Charles Schwab Investment Management Inc. grew its position in shares of Chevron by 4.9% during the 1st 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 buying an additional 1,574,464 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Chevron by 141.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after acquiring an additional 1,107,628 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated 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 directly owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of the company’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 transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CVX. TD Cowen lifted their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Mizuho lowered their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Wells Fargo & Company initiated coverage on Chevron in a report on Friday. They set an “overweight” rating and a $190.00 price objective on the stock. UBS Group raised their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Finally, Raymond James Financial reissued an “outperform” rating and set a $160.00 price objective (down previously from $170.00) on shares of Chevron in a research report on Friday. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $165.25.

Chevron Stock Up 0.9%

NYSE:CVX opened at $153.12 on Monday. The firm has a market capitalization of $264.58 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84. The stock’s 50 day moving average price is $156.03 and its two-hundred day moving average price is $147.96. 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.

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, topping 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 business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period in the previous year, the firm earned $2.55 EPS. The firm’s revenue was down 12.4% compared to the same quarter last year. Equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron’s dividend payout ratio is 88.03%.

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.