Flputnam Investment Management Co. bought a new position in Chevron Corporation (NYSE:CVX – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 101,773 shares of the oil and gas company’s stock, valued at approximately $16,870,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Midwest Capital Advisors LLC bought a new position in shares of Chevron in the first quarter worth about $25,000. Main Street Group LTD bought a new position in shares of Chevron during the 1st quarter valued at approximately $28,000. Phillip James Consulting Co. purchased a new stake in Chevron in the 4th quarter worth approximately $26,000. Core Wealth Advisors LLC purchased a new stake in Chevron in the 4th quarter worth approximately $26,000. Finally, Karpus Management Inc. bought a new stake in Chevron during the 4th quarter worth approximately $27,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Chevron
In related news, CEO Michael K. Wirth sold 5,547 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total value of $1,037,289.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares of the company’s stock, valued at $4,919,596. The trade was a 17.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John B. Hess sold 710,665 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total value of $137,940,076.50. Following the sale, the director owned 363,711 shares of the company’s stock, valued at approximately $70,596,305.10. This represents a 66.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,196,212 shares of company stock worth $231,819,366. 0.56% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Get Our Latest Report on Chevron
Chevron Stock Down 0.0%
NYSE CVX opened at $199.99 on Monday. The company has a fifty day moving average of $183.30 and a two-hundred day moving average of $187.01. The firm has a market capitalization of $395.13 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 0.61 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71.
Chevron (NYSE:CVX – Get Free Report) last released its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business’s revenue was up 57.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.77 earnings per share. On average, analysts predict that Chevron Corporation will post 15.86 earnings per share for the current year.
Chevron Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. Chevron’s dividend payout ratio (DPR) is currently 68.26%.
About Chevron
Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.
Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.
Featured Articles
- Five stocks we like better than Chevron
- The Metals Company’s Big Bet Now Comes Down to a License
- OneSpaWorld Keeps Turning Cruise Demand Into Record Earnings
- Meta and Tesla Are Rebounding From Oversold Levels—Now What?
- AMG’s Alternatives Boom Powers Record Growth
Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX – Free Report).
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.
