1,646 Shares in Chevron Corporation $CVX Acquired by GGM Financials LLC

GGM Financials LLC acquired a new position in shares of Chevron Corporation (NYSE:CVX) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,646 shares of the oil and gas company’s stock, valued at approximately $236,000.

Other hedge funds have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd boosted its position in shares of 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 purchasing an additional 122 shares during the period. Elequin Capital LP purchased a new position in shares of Chevron during the 1st quarter worth approximately $31,000. IMG Wealth Management Inc. boosted its position in shares of Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares during the period. Cloud Capital Management LLC purchased a new position in shares of Chevron during the 1st quarter worth approximately $39,000. Finally, Investment Management Corp VA ADV boosted its position 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 period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $155.38 on Tuesday. The company’s fifty day moving average price is $156.03 and its 200 day moving average price is $148.55. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. 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 firm has a market capitalization of $268.49 billion, a P/E ratio of 20.00, a P/E/G ratio of 4.42 and a beta of 0.84.

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, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period last year, the business earned $2.55 EPS. Chevron’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, sell-side analysts predict 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%.

Analysts Set New Price Targets

Several brokerages have commented on CVX. Morgan Stanley began coverage on shares of Chevron in a research report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price target for the company. Mizuho decreased their price target on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Piper Sandler lifted their price objective on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Hold” and an average price target of $165.25.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction on 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 in the company, valued at $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron 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 sale, the director 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 disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

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.