Chevron Corporation $CVX Shares Acquired by Capital Investment Counsel Inc

Capital Investment Counsel Inc increased its stake in Chevron Corporation (NYSE:CVX) by 9.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,212 shares of the oil and gas company’s stock after purchasing an additional 768 shares during the period. Capital Investment Counsel Inc’s holdings in Chevron were worth $1,319,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. boosted its stake in Chevron by 58.9% during the 1st quarter. Edgestream Partners L.P. now owns 19,412 shares of the oil and gas company’s stock valued at $3,247,000 after purchasing an additional 7,198 shares during the period. Tectonic Advisors LLC raised its holdings in shares of Chevron by 3.5% during the first quarter. Tectonic Advisors LLC now owns 7,333 shares of the oil and gas company’s stock valued at $1,227,000 after buying an additional 251 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Chevron by 24.0% during the first quarter. Victory Capital Management Inc. now owns 1,859,513 shares of the oil and gas company’s stock worth $311,078,000 after buying an additional 359,335 shares during the period. Capital A Wealth Management LLC grew its holdings in Chevron by 60.6% in the 1st quarter. Capital A Wealth Management LLC now owns 848 shares of the oil and gas company’s stock worth $142,000 after buying an additional 320 shares in the last quarter. Finally, DDD Partners LLC raised its position in shares of Chevron by 9.1% during the 1st quarter. DDD Partners LLC now owns 138,268 shares of the oil and gas company’s stock worth $23,131,000 after buying an additional 11,508 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research analyst reports. Bank of America upped their price target on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Wells Fargo & Company began coverage on Chevron in a research report on Friday, October 17th. They issued an “overweight” rating and a $190.00 target price for the company. Mizuho decreased 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. UBS Group boosted their price objective on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Finally, Melius Research assumed coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of “Hold” and an average price target of $165.45.

Chevron Price Performance

NYSE CVX opened at $153.38 on Thursday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The business’s fifty day moving average is $155.24 and its two-hundred day moving average is $150.07. The stock has a market capitalization of $308.84 billion, a P/E ratio of 19.74, a P/E/G ratio of 4.40 and a beta of 0.83. 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 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. The business had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.During the same period in the previous year, the firm posted $2.48 EPS. The company’s quarterly revenue was down 1.9% on a year-over-year basis. On average, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron’s dividend payout ratio is currently 96.20%.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated 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 directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Alana K. Knowles sold 3,978 shares of the business’s 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 is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

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.