Chevron Corporation $CVX Shares Bought by Bridgewater Advisors Inc.

Bridgewater Advisors Inc. raised its stake in Chevron Corporation (NYSE:CVX) by 13.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,011 shares of the oil and gas company’s stock after purchasing an additional 926 shares during the period. Bridgewater Advisors Inc.’s holdings in Chevron were worth $1,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Whelan Financial boosted its stake in Chevron by 3.0% during the 1st quarter. Whelan Financial now owns 3,211 shares of the oil and gas company’s stock worth $537,000 after purchasing an additional 94 shares during the period. Bolthouse Investments LLC boosted its stake in Chevron by 63.0% during the 1st quarter. Bolthouse Investments LLC now owns 7,346 shares of the oil and gas company’s stock worth $1,229,000 after purchasing an additional 2,839 shares during the period. Sierra Ocean LLC raised its position in Chevron by 15.4% during the 1st quarter. Sierra Ocean LLC now owns 882 shares of the oil and gas company’s stock worth $148,000 after buying an additional 118 shares during the last quarter. McGlone Suttner Wealth Management Inc. raised its position in Chevron by 27.2% during the 1st quarter. McGlone Suttner Wealth Management Inc. now owns 5,515 shares of the oil and gas company’s stock worth $923,000 after buying an additional 1,181 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC lifted its position in Chevron by 1.4% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 8,827 shares of the oil and gas company’s stock valued at $1,477,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $157.58 on Monday. The company has a market cap of $272.30 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 4.40 and a beta of 0.84. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The company has a 50-day simple moving average of $156.07 and a 200-day simple moving average of $149.20.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The business had revenue of $49.73 billion during the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.48 earnings per share. On average, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is 88.03%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CVX shares. Barclays reduced their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Wells Fargo & Company began coverage on shares of Chevron in a report on Friday, October 17th. They issued an “overweight” rating and a $190.00 price target for the company. TD Cowen increased their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Evercore ISI reiterated an “outperform” rating and issued a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $160.00 price target (down previously from $170.00) on shares of Chevron in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Hold” and an average price target of $165.25.

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.