Clune & Associates LTD. Buys 198 Shares of Chevron Corporation $CVX

Clune & Associates LTD. grew its stake in shares of Chevron Corporation (NYSE:CVX) by 8.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,622 shares of the oil and gas company’s stock after acquiring an additional 198 shares during the period. Clune & Associates LTD.’s holdings in Chevron were worth $376,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in Chevron by 27.3% during the 1st quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock worth $5,408,000 after buying an additional 6,928 shares during the period. Genesee Capital Advisors LLC boosted its position in shares of Chevron by 2.4% in the first quarter. Genesee Capital Advisors LLC now owns 4,559 shares of the oil and gas company’s stock valued at $763,000 after acquiring an additional 107 shares during the period. Cherry Creek Investment Advisors Inc. grew its stake in shares of Chevron by 2.2% in the first quarter. Cherry Creek Investment Advisors Inc. now owns 4,430 shares of the oil and gas company’s stock valued at $741,000 after acquiring an additional 95 shares in the last quarter. 1858 Wealth Management LLC bought a new position in Chevron during the first quarter worth about $216,000. Finally, Crumly & Associates Inc. raised its stake in Chevron by 4.3% in the 1st quarter. Crumly & Associates Inc. now owns 3,438 shares of the oil and gas company’s stock worth $575,000 after purchasing an additional 143 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction 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 sale, the vice president owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.9%

Shares of CVX stock opened at $154.53 on Tuesday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock’s fifty day moving average price is $156.05 and its two-hundred day moving average price is $148.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market cap of $267.02 billion, a PE ratio of 19.89, a P/E/G ratio of 2.02 and a beta of 0.84.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.55 EPS. Equities analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Mizuho reduced their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Piper Sandler raised their price objective on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Scotiabank upped their target price on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Finally, Melius initiated coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $165.25.

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.