Valmark Advisers Inc. Buys 663 Shares of Chevron Corporation $CVX

Valmark Advisers Inc. boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 4.4% in the second quarter, HoldingsChannel reports. The firm owned 15,759 shares of the oil and gas company’s stock after purchasing an additional 663 shares during the quarter. Valmark Advisers Inc.’s holdings in Chevron were worth $2,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Chevron by 652,139.5% during the second 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 buying an additional 83,702,101 shares in the last quarter. GQG Partners LLC acquired a new stake in shares of Chevron during the first quarter worth $1,466,751,000. Nuveen LLC acquired a new stake in shares of Chevron during the first quarter worth $1,362,232,000. Charles Schwab Investment Management Inc. raised its stake in Chevron by 4.9% in 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 in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Chevron by 141.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after purchasing an additional 1,107,628 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Chevron Stock Down 0.7%

Shares of NYSE CVX opened at $153.76 on Thursday. 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 company has a market cap of $265.70 billion, a price-to-earnings ratio of 19.79, a PEG 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 stock has a 50-day moving average price of $156.15 and a two-hundred day moving average price of $148.88.

Chevron (NYSE:CVX) last issued its 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 return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the previous year, the firm earned $2.55 earnings per share. The business’s quarterly revenue was down 12.4% on a year-over-year basis. As a group, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio is currently 88.03%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Piper Sandler boosted their price target on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. UBS Group boosted their price target on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Scotiabank reaffirmed a “sector perform” rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $178.00 price target on shares of Chevron in a research note on Friday, August 1st. Eleven investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $165.15.

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.