Phillips Financial Management LLC Buys 215 Shares of Chevron Corporation $CVX

Phillips Financial Management LLC increased its stake in Chevron Corporation (NYSE:CVX) by 16.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,507 shares of the oil and gas company’s stock after purchasing an additional 215 shares during the quarter. Phillips Financial Management LLC’s holdings in Chevron were worth $216,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC grew its holdings in Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after buying an additional 83,702,101 shares in the last quarter. GQG Partners LLC purchased a new position in Chevron during the first quarter valued at approximately $1,466,751,000. Nuveen LLC bought a new stake in Chevron during the 1st quarter worth approximately $1,362,232,000. Charles Schwab Investment Management Inc. increased its holdings in Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after acquiring an additional 1,574,464 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in Chevron by 141.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after purchasing an additional 1,107,628 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CVX shares. TD Cowen boosted their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Evercore ISI restated an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Piper Sandler upped their target price on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Melius initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Finally, Bank of America boosted their price objective on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $165.25.

Insiders Place Their Bets

In other Chevron news, 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 $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 at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated 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 directly owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Chevron Price Performance

CVX opened at $153.80 on Wednesday. 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 market capitalization of $265.76 billion, a P/E ratio of 19.79, a PEG ratio of 2.06 and a beta of 0.84. The stock has a 50-day moving average price of $156.04 and a 200-day moving average price of $148.08. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

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, beating analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $2.55 EPS. Equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued 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 payout ratio is presently 88.03%.

Chevron 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.