Stableford Capital II LLC Grows Position in Chevron Corporation $CVX

Stableford Capital II LLC increased its stake in shares of Chevron Corporation (NYSE:CVX) by 13.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,453 shares of the oil and gas company’s stock after acquiring an additional 911 shares during the quarter. Stableford Capital II LLC’s holdings in Chevron were worth $1,154,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC lifted its stake in Chevron by 19.9% in the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 16,816 shares of the oil and gas company’s stock worth $2,408,000 after purchasing an additional 2,787 shares in the last quarter. WealthPlan Investment Management LLC increased its holdings in shares of Chevron by 18.8% in the second quarter. WealthPlan Investment Management LLC now owns 96,934 shares of the oil and gas company’s stock worth $13,880,000 after purchasing an additional 15,324 shares during the last quarter. Alta Capital Management LLC lifted its position in shares of Chevron by 8.3% in the second quarter. Alta Capital Management LLC now owns 43,316 shares of the oil and gas company’s stock worth $6,202,000 after buying an additional 3,303 shares in the last quarter. Pettinga Financial Advisors LLC lifted its position in shares of Chevron by 3.3% in the second quarter. Pettinga Financial Advisors LLC now owns 3,126 shares of the oil and gas company’s stock worth $448,000 after buying an additional 101 shares in the last quarter. Finally, Bridges Investment Management Inc. boosted its stake in Chevron by 0.3% during the second quarter. Bridges Investment Management Inc. now owns 148,448 shares of the oil and gas company’s stock valued at $21,256,000 after buying an additional 441 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Down 0.3%

CVX stock opened at $151.99 on Thursday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a market capitalization of $262.63 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm’s fifty day simple moving average is $156.10 and its two-hundred day simple moving average is $148.36.

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 analysts’ consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.55 EPS. As a group, analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend 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 is currently 88.03%.

Analyst Ratings Changes

A number of research firms have issued reports on CVX. Mizuho reduced their price objective on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Raymond James Financial restated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Barclays decreased their price target on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Finally, Evercore ISI restated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Hold” and a consensus price target of $165.40.

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of the 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 sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was 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 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.