Telos Capital Management Inc. Buys 7,872 Shares of Chevron Corporation $CVX

Telos Capital Management Inc. increased its stake in Chevron Corporation (NYSE:CVX) by 7.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,940 shares of the oil and gas company’s stock after buying an additional 7,872 shares during the period. Chevron accounts for 1.6% of Telos Capital Management Inc.’s portfolio, making the stock its 14th largest position. Telos Capital Management Inc.’s holdings in Chevron were worth $15,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CVX. Harvest Fund Management Co. Ltd raised its stake in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares in the last quarter. Elequin Capital LP bought a new position in Chevron in the first quarter worth about $31,000. Quaker Wealth Management LLC raised its stake in Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after buying an additional 439 shares in the last quarter. IMG Wealth Management Inc. grew its holdings in Chevron by 52.3% in the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares during the period. Finally, Cloud Capital Management LLC purchased a new stake in Chevron in the first quarter worth about $39,000. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 2.6%

NYSE:CVX opened at $157.58 on Monday. The company’s 50 day moving average price is $156.07 and its 200-day moving average price is $149.20. Chevron Corporation has a 52 week low of $132.04 and a 52 week 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 has a market cap of $272.30 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 4.40 and a beta of 0.84.

Chevron (NYSE:CVX) last posted its 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. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $49.73 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter in the previous year, the firm posted $2.48 EPS. The firm’s revenue was down 1.9% on a year-over-year basis. On average, equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Insider Buying and Selling

In other Chevron news, 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction 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. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CVX shares. Wells Fargo & Company started coverage on shares of Chevron in a report on Friday, October 17th. They issued an “overweight” rating and a $190.00 price objective on the stock. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Scotiabank upped their price objective on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Morgan Stanley started coverage on shares of Chevron in a report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective on the stock. Finally, Melius started coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $165.25.

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.