Madrona Financial Services LLC Invests $1.29 Million in Chevron Corporation $CVX

Madrona Financial Services LLC bought a new stake in shares of Chevron Corporation (NYSE:CVX) in the 2nd quarter, Holdings Channel.com reports. The firm bought 9,033 shares of the oil and gas company’s stock, valued at approximately $1,293,000.

Several other institutional investors have also added to or reduced their stakes in CVX. SOA Wealth Advisors LLC. boosted its stake in shares of Chevron by 2.5% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 6,202 shares of the oil and gas company’s stock worth $888,000 after acquiring an additional 154 shares during the last quarter. Founders Capital Management raised its holdings in Chevron by 0.7% in the 2nd quarter. Founders Capital Management now owns 35,470 shares of the oil and gas company’s stock worth $5,079,000 after purchasing an additional 242 shares during the period. Parkwoods Wealth Partners LLC bought a new position in Chevron in the 2nd quarter worth $303,000. Dogwood Wealth Management LLC lifted its position in Chevron by 18.2% during the second quarter. Dogwood Wealth Management LLC now owns 5,503 shares of the oil and gas company’s stock valued at $843,000 after purchasing an additional 847 shares in the last quarter. Finally, First Pacific Financial grew its holdings in Chevron by 4,874.9% during the second quarter. First Pacific Financial now owns 18,258 shares of the oil and gas company’s stock valued at $2,614,000 after purchasing an additional 17,891 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Down 0.4%

Shares of CVX stock opened at $154.64 on Thursday. The stock has a market cap of $267.21 billion, a P/E ratio of 19.90, a PEG ratio of 1.97 and a beta of 0.84. 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 company’s fifty day simple moving average is $156.31 and its two-hundred day simple moving average is $149.17.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same quarter last year, the business posted $2.55 earnings per share. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. Analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of the stock in a transaction on Friday, August 22nd. The shares were 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. This trade represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Alana K. Knowles sold 3,978 shares of the business’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 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 disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent analyst reports. Mizuho decreased their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Bank of America increased their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Evercore ISI restated an “outperform” rating and set a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Melius began coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Finally, Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron has an average rating of “Hold” and an average price target of $165.05.

Chevron 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.