Chevron Corporation $CVX Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC boosted its holdings in shares of Chevron Corporation (NYSE:CVX) by 5.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,601,515 shares of the oil and gas company’s stock after purchasing an additional 81,832 shares during the period. ProShare Advisors LLC owned approximately 0.09% of Chevron worth $229,321,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC grew its holdings in shares of Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after acquiring an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after purchasing an additional 1,574,464 shares during the last quarter. Invesco Ltd. boosted its position in shares of Chevron by 5.5% in the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after purchasing an additional 827,851 shares during the period. Dimensional Fund Advisors LP increased its stake in Chevron by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after purchasing an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC acquired a new stake in Chevron during the 1st quarter worth about $1,466,751,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director directly 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 SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CVX shares. Bank of America lifted their target price 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. TD Cowen lifted their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Evercore ISI reissued an “outperform” rating and set a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Mizuho decreased their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $160.00 price target (down previously from $170.00) on shares of Chevron in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Chevron presently has an average rating of “Hold” and an average price target of $165.40.

Chevron Stock Up 1.4%

Chevron stock opened at $155.10 on Monday. The firm has a market cap of $268.01 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 4.40 and a beta of 0.83. The firm has a fifty day moving average price of $155.55 and a two-hundred day moving average price of $149.80. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week 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.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.48 EPS. As a group, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

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.