Yousif Capital Management LLC Increases Stock Holdings in Chevron Corporation $CVX

Yousif Capital Management LLC boosted its holdings in Chevron Corporation (NYSE:CVX) by 6.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 301,445 shares of the oil and gas company’s stock after purchasing an additional 18,154 shares during the quarter. Chevron makes up 0.5% of Yousif Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Yousif Capital Management LLC’s holdings in Chevron were worth $46,811,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Quaker Wealth Management LLC lifted its holdings in shares of Chevron by 197.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 439 shares during the period. Vermillion & White Wealth Management Group LLC grew its holdings in Chevron by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 118 shares during the period. IMG Wealth Management Inc. increased its position in Chevron by 52.3% during the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares during the last quarter. GFG Capital LLC acquired a new position in Chevron during the second quarter worth approximately $42,000. Finally, LFA Lugano Financial Advisors SA raised its stake in Chevron by 106.7% during the second quarter. LFA Lugano Financial Advisors SA now owns 310 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 160 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 0.4%

Shares of CVX opened at $150.47 on Wednesday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock’s 50-day moving average is $152.23 and its two-hundred day moving average is $152.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. The stock has a market cap of $302.97 billion, a PE ratio of 21.16, a P/E/G ratio of 8.90 and a beta of 0.68.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The company’s revenue was down 1.9% on a year-over-year basis. During the same period last year, the business posted $2.48 EPS. Equities 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 was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were paid a dividend of $1.71 per share. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CVX. Barclays lowered their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Mizuho lifted their target price on Chevron from $204.00 to $206.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Morgan Stanley boosted their price target on Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. UBS Group restated a “buy” rating on shares of Chevron in a report on Monday, December 1st. Finally, Piper Sandler reduced their price objective on Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $166.00.

Insider Activity at Chevron

In other news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the transaction, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.