Chevron Corporation $CVX Shares Bought by Concord Asset Management LLC VA

Concord Asset Management LLC VA raised its stake in Chevron Corporation (NYSE:CVX) by 18.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,267 shares of the oil and gas company’s stock after acquiring an additional 1,430 shares during the quarter. Concord Asset Management LLC VA’s holdings in Chevron were worth $1,327,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CCG Wealth Management LLC lifted its holdings in Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock valued at $1,060,000 after acquiring an additional 145 shares during the period. Ignite Planners LLC raised its stake in shares of Chevron by 14.1% during the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after buying an additional 1,519 shares during the period. Vista Capital Partners Inc. raised its stake in shares of Chevron by 9.1% during the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after buying an additional 495 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Chevron by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock worth $24,075,000 after buying an additional 675 shares during the period. Finally, Capital Advisors Inc. OK raised its stake in shares of Chevron by 0.3% during the 1st quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock worth $95,231,000 after buying an additional 1,755 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John B. Hess sold 375,000 shares of the stock in a transaction on 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 completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated 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 directly owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Down 1.7%

Shares of NYSE:CVX opened at $149.11 on Monday. 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 business has a fifty day moving average of $156.10 and a two-hundred day moving average of $148.41. The stock has a market cap of $257.66 billion, a P/E ratio of 19.19, a PEG ratio of 1.93 and a beta of 0.84. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

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

Chevron Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. Chevron’s dividend payout ratio is currently 88.03%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CVX. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Morgan Stanley initiated coverage on Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Melius Research initiated coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Finally, Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $165.40.

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.