Clark & Stuart Inc Raises Holdings in Chevron Corporation $CVX

Clark & Stuart Inc increased its holdings in Chevron Corporation (NYSE:CVX) by 0.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,527 shares of the oil and gas company’s stock after buying an additional 100 shares during the period. Chevron comprises approximately 1.7% of Clark & Stuart Inc’s investment portfolio, making the stock its 19th biggest holding. Clark & Stuart Inc’s holdings in Chevron were worth $2,223,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Kingstone Capital Partners Texas LLC boosted its position in Chevron by 652,139.5% during the second 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 purchasing an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after buying an additional 1,574,464 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Chevron by 5.5% in the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after buying an additional 827,851 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Chevron by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after buying an additional 40,758 shares during the last quarter. Finally, GQG Partners LLC bought a new position in shares of Chevron during the 1st quarter worth approximately $1,466,751,000. Institutional investors 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 shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 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 $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 Stock Performance

Shares of CVX stock opened at $153.99 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The business has a fifty day moving average of $156.19 and a 200 day moving average of $148.80. The firm has a market capitalization of $266.09 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84. Chevron Corporation has a 1 year low of $132.04 and a 1 year 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. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period in the prior year, the company earned $2.55 earnings per share. The company’s revenue was down 12.4% on a year-over-year basis. As a group, research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given 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 yield of 4.4%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Analysts Set New Price Targets

Several brokerages have weighed in on CVX. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research report on Saturday, September 27th. Scotiabank restated a “sector perform” rating and set a $160.00 target price (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Bank of America increased their price target on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Finally, Barclays reissued an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $165.05.

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.