Cohen Investment Advisors LLC Acquires 2,431 Shares of Chevron Corporation $CVX

Cohen Investment Advisors LLC boosted its holdings in Chevron Corporation (NYSE:CVX) by 11.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 24,383 shares of the oil and gas company’s stock after buying an additional 2,431 shares during the period. Chevron makes up 1.8% of Cohen Investment Advisors LLC’s investment portfolio, making the stock its 24th largest position. Cohen Investment Advisors LLC’s holdings in Chevron were worth $3,491,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Greenfield Savings Bank raised its holdings in Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after acquiring an additional 68 shares during the period. Atwater Malick LLC raised its holdings in Chevron by 2.4% during the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after acquiring an additional 68 shares during the period. Hubbell Strickland Wealth Management LLC raised its holdings in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock valued at $1,443,000 after acquiring an additional 68 shares during the period. GDS Wealth Management raised its holdings in Chevron by 4.4% during the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock valued at $285,000 after acquiring an additional 72 shares during the period. Finally, AIMZ Investment Advisors LLC raised its holdings in Chevron by 4.2% during the first quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company’s stock valued at $298,000 after acquiring an additional 72 shares during the period. 72.42% of the stock is owned by institutional investors.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Morgan Stanley assumed coverage on Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price target on the stock. Melius Research began coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Scotiabank restated a “sector perform” rating and set a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Evercore ISI restated an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Wednesday. Eleven equities 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $165.15.

Chevron Trading Down 0.7%

CVX opened at $153.76 on Thursday. The firm has a market cap of $265.70 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.99 and a beta of 0.84. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average of $156.15 and a 200 day moving average of $148.88.

Chevron (NYSE:CVX) last released 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. The company had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the business posted $2.55 earnings per share. As a group, research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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 annualized dividend and a yield of 4.4%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

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.