Warwick Investment Management Inc. Purchases Shares of 3,033 Chevron Corporation $CVX

Warwick Investment Management Inc. purchased a new stake in Chevron Corporation (NYSE:CVX) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,033 shares of the oil and gas company’s stock, valued at approximately $507,000.

Several other large investors also recently made changes to their positions in the company. TCM Advisors LLC increased its stake in shares of Chevron by 1.1% in the first quarter. TCM Advisors LLC now owns 9,300 shares of the oil and gas company’s stock valued at $1,556,000 after purchasing an additional 100 shares during the period. Redwood Investment Management LLC increased its stake in shares of Chevron by 10.3% in the first quarter. Redwood Investment Management LLC now owns 13,898 shares of the oil and gas company’s stock valued at $2,325,000 after purchasing an additional 1,295 shares during the period. Samalin Investment Counsel LLC increased its stake in shares of Chevron by 26.4% in the first quarter. Samalin Investment Counsel LLC now owns 6,077 shares of the oil and gas company’s stock valued at $1,017,000 after purchasing an additional 1,270 shares during the period. Epoch Investment Partners Inc. increased its stake in shares of Chevron by 3.8% in the first quarter. Epoch Investment Partners Inc. now owns 497,651 shares of the oil and gas company’s stock valued at $83,252,000 after purchasing an additional 18,369 shares during the period. Finally, Ceredex Value Advisors LLC increased its stake in shares of Chevron by 4.9% in the first quarter. Ceredex Value Advisors LLC now owns 349,252 shares of the oil and gas company’s stock valued at $58,426,000 after purchasing an additional 16,397 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction that occurred on 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 approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Chevron Trading Down 0.5%

Chevron stock opened at $157.43 on Wednesday. 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 firm has a market cap of $272.04 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 2.35 and a beta of 0.87. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm’s 50 day moving average price is $151.62 and its two-hundred day moving average price is $148.71.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.55 earnings per share. On average, research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Melius assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective on the stock. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Mizuho lowered their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company reiterated an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron has an average rating of “Hold” and a consensus target price of $163.95.

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.