Bcwm LLC Buys 3,464 Shares of Chevron Corporation $CVX

Bcwm LLC grew its stake in Chevron Corporation (NYSE:CVX) by 10.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,935 shares of the oil and gas company’s stock after buying an additional 3,464 shares during the quarter. Bcwm LLC’s holdings in Chevron were worth $6,122,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Chevron in the 2nd quarter valued at $25,663,729,000. State Street Corp boosted its stake in Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after purchasing an additional 12,789,399 shares during the period. Berkshire Hathaway Inc increased its holdings in Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after purchasing an additional 8,091,570 shares in the last quarter. Geode Capital Management LLC increased its holdings in Chevron by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock worth $6,620,187,000 after purchasing an additional 134,890 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Chevron by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock valued at $5,492,377,000 after purchasing an additional 961,341 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In other news, Director John B. Hess sold 100,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.26, for a total value of $19,426,000.00. Following the sale, the director directly owned 178,045 shares of the company’s stock, valued at approximately $34,587,021.70. This represents a 35.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew Benjamin Walz sold 16,800 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the sale, the insider directly owned 14 shares in the company, valued at approximately $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on CVX shares. Jefferies Financial Group restated a “buy” rating and issued a $216.00 price target on shares of Chevron in a report on Friday, July 10th. Piper Sandler started coverage on Chevron in a report on Thursday, July 23rd. They set an “overweight” rating and a $207.00 price objective for the company. TD Cowen boosted their target price on Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Wall Street Zen raised Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Barclays lowered their price objective on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating on the stock in a report on Monday, August 17th. Twenty investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $207.48.

Chevron Stock Up 0.2%

CVX stock opened at $200.26 on Thursday. The company has a market cap of $395.67 billion, a price-to-earnings ratio of 19.20, a P/E/G ratio of 0.60 and a beta of 0.49. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The business has a 50 day moving average price of $186.34 and a two-hundred day moving average price of $188.63. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. The company had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business’s revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.77 EPS. Analysts anticipate that Chevron Corporation will post 16.17 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s dividend payout ratio is 68.26%.

About Chevron

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.