Chevron Corporation $CVX Shares Purchased by Cidel Asset Management Inc.

Cidel Asset Management Inc. raised its position in Chevron Corporation (NYSE:CVX) by 6.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 25,796 shares of the oil and gas company’s stock after acquiring an additional 1,494 shares during the quarter. Cidel Asset Management Inc.’s holdings in Chevron were worth $3,694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Harvest Fund Management Co. Ltd grew its stake 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 worth $25,000 after purchasing an additional 122 shares in the last quarter. Elequin Capital LP bought a new stake in shares of Chevron during the first quarter valued at about $31,000. Cloud Capital Management LLC bought a new stake in shares of Chevron during the first quarter valued at about $39,000. Investment Management Corp VA ADV lifted its holdings in 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 worth $39,000 after purchasing an additional 149 shares during the period. Finally, 1 North Wealth Services LLC bought a new position in Chevron in the 1st quarter valued at about $45,000. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’s 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president directly 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. Company insiders own 0.21% of the company’s stock.

Chevron Trading Up 0.9%

Shares of NYSE:CVX opened at $153.12 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The stock has a market capitalization of $264.58 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.01 and a beta of 0.84. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a 50 day moving average price of $156.03 and a 200 day moving average price of $148.02.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.55 EPS. On average, research analysts anticipate that Chevron Corporation will post 10.79 EPS 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 given a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron’s dividend payout ratio (DPR) is 88.03%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Melius Research initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Morgan Stanley assumed coverage on shares of Chevron in a report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective for the company. Bank of America boosted their target price on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Finally, Barclays decreased their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. 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 presently has an average rating of “Hold” and an average target price of $165.25.

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.