Chevron Corporation $CVX Shares Acquired by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC lifted its stake in Chevron Corporation (NYSE:CVX) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,246 shares of the oil and gas company’s stock after purchasing an additional 545 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in Chevron were worth $2,326,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. National Pension Service boosted its position in shares of Chevron by 4.0% during the 2nd quarter. National Pension Service now owns 3,461,940 shares of the oil and gas company’s stock valued at $495,715,000 after acquiring an additional 133,868 shares during the last quarter. Glynn Capital Management LLC purchased a new position in Chevron in the second quarter worth approximately $843,000. Advyzon Investment Management LLC raised its position in Chevron by 27.2% in the second quarter. Advyzon Investment Management LLC now owns 4,688 shares of the oil and gas company’s stock valued at $671,000 after purchasing an additional 1,003 shares during the period. Winch Advisory Services LLC grew its holdings in shares of Chevron by 2.4% during the 2nd quarter. Winch Advisory Services LLC now owns 6,663 shares of the oil and gas company’s stock worth $954,000 after purchasing an additional 158 shares during the period. Finally, Fagan Associates Inc. lifted its position in Chevron by 1.4% in the second quarter. Fagan Associates Inc. now owns 70,187 shares of the oil and gas company’s stock valued at $10,050,000 after buying an additional 958 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

Chevron Stock Up 0.3%

CVX stock opened at $156.05 on Wednesday. The company’s 50 day moving average price is $155.33 and its 200 day moving average price is $150.04. The firm has a market capitalization of $269.65 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 4.40 and a beta of 0.83. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter in the previous year, the firm earned $2.48 earnings per share. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be paid a $1.71 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent analyst reports. TD Cowen upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Piper Sandler dropped their target price on Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a research report on Monday. Evercore ISI reissued an “outperform” rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Mizuho dropped their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Finally, Barclays cut their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. One 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $165.45.

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.