Chevron Corporation $CVX Shares Acquired by VestGen Advisors LLC

VestGen Advisors LLC lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 13.9% in the second quarter, Holdings Channel reports. The firm owned 34,637 shares of the oil and gas company’s stock after buying an additional 4,219 shares during the period. VestGen Advisors LLC’s holdings in Chevron were worth $5,123,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC increased its stake in Chevron by 652,139.5% during 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 buying an additional 83,702,101 shares in the last quarter. Norges Bank purchased a new position in shares of Chevron in the second quarter valued at approximately $2,721,477,000. GQG Partners LLC acquired a new stake in shares of Chevron in the first quarter worth approximately $1,466,751,000. Nuveen LLC acquired a new stake in shares of Chevron in the first quarter worth approximately $1,362,232,000. Finally, Laurel Wealth Advisors LLC increased its position in shares of Chevron by 14,194.2% during the second quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock worth $532,984,000 after purchasing an additional 3,696,177 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 1.1%

NYSE CVX opened at $151.21 on Friday. The business’s fifty day simple moving average is $153.97 and its 200-day simple moving average is $151.22. 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 firm has a market cap of $304.46 billion, a PE ratio of 19.46, a P/E/G ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same period last year, the business earned $2.48 earnings per share. Chevron’s revenue was down 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be issued a dividend of $1.71 per share. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research reports. Mizuho raised their price objective on Chevron from $191.00 to $204.00 and gave the company an “outperform” rating in a report on Thursday, November 13th. Zacks Research lowered shares of Chevron from a “hold” rating to a “strong sell” rating in a report on Monday, November 24th. UBS Group raised their price target on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Morgan Stanley boosted their price target on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Finally, Barclays dropped 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 note on Tuesday, October 7th. Ten investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $165.58.

Insider Activity at Chevron

In related news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the transaction, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.

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.