Silverleafe Capital Partners LLC Boosts Position in Chevron Corporation $CVX

Silverleafe Capital Partners LLC boosted its position in shares of Chevron Corporation (NYSE:CVX) by 4.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,191 shares of the oil and gas company’s stock after purchasing an additional 290 shares during the quarter. Silverleafe Capital Partners LLC’s holdings in Chevron were worth $886,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. Harvest Fund Management Co. Ltd lifted its position in shares of 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 valued at $25,000 after acquiring an additional 122 shares in the last quarter. 10Elms LLP purchased a new stake in shares of Chevron in the fourth quarter valued at $29,000. Elequin Capital LP purchased a new stake in shares of Chevron in the first quarter valued at $31,000. IFS Advisors LLC lifted its position in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 116 shares in the last quarter. Finally, Cloud Capital Management LLC purchased a new stake in shares of Chevron in the first quarter valued at $39,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of NYSE:CVX opened at $157.23 on Monday. The firm has a market capitalization of $271.69 billion, a PE ratio of 20.24, a P/E/G ratio of 1.98 and a beta of 0.90. 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 business has a 50-day moving average of $154.67 and a two-hundred day moving average of $148.79. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.55 earnings per share. As a group, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s dividend payout ratio is currently 88.03%.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent research reports. Piper Sandler upped their price objective on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Bank of America upped their price objective on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. UBS Group upped their target price on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Barclays reiterated an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Finally, TD Cowen upped their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $164.80.

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.