CORDA Investment Management LLC. Has $6.04 Million Stake in Chevron Corporation $CVX

CORDA Investment Management LLC. lifted its holdings in Chevron Corporation (NYSE:CVX) by 36.5% during the 1st quarter, Holdings Channel reports. The fund owned 29,171 shares of the oil and gas company’s stock after acquiring an additional 7,793 shares during the quarter. CORDA Investment Management LLC.’s holdings in Chevron were worth $6,035,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CVX. Midwest Capital Advisors LLC acquired a new position in Chevron in the first quarter worth $25,000. Core Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at about $26,000. Phillip James Consulting Co. bought a new position in shares of Chevron in the fourth quarter valued at about $26,000. Basso Capital Management L.P. acquired a new position in shares of Chevron during the fourth quarter worth approximately $27,000. Finally, Karpus Management Inc. acquired a new position in Chevron during the 4th quarter worth $27,000. 72.42% of the stock is currently owned by institutional investors.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research report on Wednesday, May 6th. Royal Bank Of Canada restated an “outperform” rating and set a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. Zacks Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Sanford C. Bernstein reduced their price objective on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a research note on Monday, May 11th. Finally, Barclays lifted their target price on shares of Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 26th. Nineteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $206.83.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Rising Middle East tensions are pushing crude higher, which can improve Chevron’s upstream profits and make the stock look more attractive as a geopolitical hedge. With Iran Tensions Heating Up Again, Chevron Stock Looks Enticing
• Positive Sentiment: Bullish commentary from Bank of America and other analysts suggests Chevron is well positioned to benefit if Iran-related supply disruptions keep oil prices elevated. CVX Stock Has A New Bull Case
• Positive Sentiment: Chevron announced a five-year gas supply deal with Australia’s Alinta Energy, adding a stable long-term sales stream and reinforcing its gas business. Chevron Australia signs five-year gas supply agreement with Alinta Energy
• Positive Sentiment: Chevron also expanded its technology/licensing efforts and its Microsoft power partnership, which could support long-term growth beyond oil and gas pricing. Can Chevron’s Microsoft Partnership Power the Next Leg of Growth?
• Neutral Sentiment: UBS reiterated a Buy rating, which may help sentiment but does not by itself change Chevron’s fundamentals. UBS Keeps Their Buy Rating on Chevron (CVX)
• Negative Sentiment: New U.S. Russia sanctions proposals could tighten global energy trade flows and add policy uncertainty, even if they may also support oil prices. Bipartisan Senators Reach Agreement With Trump Administration to Advance New Russia Sanctions Bill

Chevron Price Performance

NYSE CVX opened at $176.29 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The stock has a market cap of $351.10 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 0.60 and a beta of 0.50. The business has a 50 day simple moving average of $181.92 and a 200 day simple moving average of $181.51. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.18 earnings per share. Analysts anticipate that Chevron Corporation will post 15.28 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 4.0%. Chevron’s payout ratio is 123.40%.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.