Chevron Corporation $CVX Shares Purchased by Ellis Investment Partners LLC

Ellis Investment Partners LLC boosted its holdings in Chevron Corporation (NYSE:CVX) by 4.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,246 shares of the oil and gas company’s stock after purchasing an additional 186 shares during the quarter. Ellis Investment Partners LLC’s holdings in Chevron were worth $608,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd increased its stake in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP acquired a new stake in Chevron during the first quarter worth about $31,000. Cloud Capital Management LLC acquired a new stake in Chevron during the first quarter worth about $39,000. Investment Management Corp VA ADV increased its stake in Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 149 shares during the last quarter. Finally, GFG Capital LLC acquired a new stake in Chevron during the second quarter worth about $42,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVX has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Mizuho dropped their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Barclays dropped their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. TD Cowen upped their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Finally, Evercore ISI restated an “outperform” rating and set a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $165.40.

Insider Buying and Selling

In other news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on 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 sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% 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, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred 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 sale, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Chevron Trading Down 1.7%

CVX opened at $149.11 on Monday. The firm has a market capitalization of $257.66 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.93 and a beta of 0.84. The firm’s 50 day moving average is $156.10 and its 200-day moving average is $148.41. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) 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 analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.55 earnings per share. Analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

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.