Chevron Corporation $CVX Shares Bought by Seamount Financial Group Inc.

Seamount Financial Group Inc. grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 95.6% during the second quarter, Holdings Channel reports. The firm owned 12,981 shares of the oil and gas company’s stock after purchasing an additional 6,345 shares during the quarter. Seamount Financial Group Inc.’s holdings in Chevron were worth $1,859,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Harvest Fund Management Co. Ltd lifted its holdings in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares in the last quarter. Elequin Capital LP acquired a new position in shares of Chevron in the first quarter worth $31,000. Cloud Capital Management LLC purchased a new stake in shares of Chevron during the first quarter worth $39,000. Investment Management Corp VA ADV raised its stake in shares of Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 149 shares in the last quarter. Finally, Cooksen Wealth LLC acquired a new stake in shares of Chevron in the first quarter valued at $43,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Melius Research assumed coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Bank of America upped their target price 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. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a report on Friday, July 18th. Finally, UBS Group boosted their price target on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $165.05.

Insiders Place Their Bets

In other news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was 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 accessible 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 shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Chevron Price Performance

CVX stock opened at $153.99 on Tuesday. The business has a 50 day moving average price of $156.19 and a 200 day moving average price of $148.80. 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 stock has a market cap of $266.09 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 1.99 and a beta of 0.84. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week 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, beating the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. 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. Equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

About Chevron

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.