MADDEN SECURITIES Corp Has $4.84 Million Stock Position in Chevron Corporation $CVX

MADDEN SECURITIES Corp increased its position in shares of Chevron Corporation (NYSE:CVX) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,802 shares of the oil and gas company’s stock after buying an additional 226 shares during the period. Chevron accounts for approximately 1.6% of MADDEN SECURITIES Corp’s holdings, making the stock its 19th biggest position. MADDEN SECURITIES Corp’s holdings in Chevron were worth $4,840,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd grew 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 purchasing an additional 122 shares during the last quarter. Elequin Capital LP bought a new stake in Chevron during the 1st quarter valued at approximately $31,000. Cloud Capital Management LLC bought a new stake in Chevron during the 1st quarter valued at approximately $39,000. Investment Management Corp VA ADV grew its holdings in Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 149 shares during the last quarter. Finally, Cooksen Wealth LLC bought a new position in Chevron in the 1st quarter worth approximately $43,000. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.3%

Shares of Chevron stock opened at $153.99 on Tuesday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a market capitalization of $266.09 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84. 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 company’s fifty day moving average price is $156.19 and its two-hundred day moving average price is $148.80.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. The business 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 previous year, the business earned $2.55 EPS. On average, analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on 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 directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% 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 Analyst Weigh In

CVX has been the subject of several research reports. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Piper Sandler upped their target price on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Bank of America raised their price target on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Morgan Stanley assumed coverage on shares of Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective on the stock. Finally, Mizuho reduced their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Hold” and a consensus target price of $165.05.

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.