Allied Investment Advisors LLC Acquires 3,732 Shares of Chevron Corporation $CVX

Allied Investment Advisors LLC raised its holdings in Chevron Corporation (NYSE:CVX) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 83,112 shares of the oil and gas company’s stock after purchasing an additional 3,732 shares during the quarter. Chevron makes up about 2.1% of Allied Investment Advisors LLC’s investment portfolio, making the stock its 20th largest position. Allied Investment Advisors LLC’s holdings in Chevron were worth $11,901,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of Chevron by 27.3% during the first quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock worth $5,408,000 after acquiring an additional 6,928 shares during the last quarter. Goldstein Advisors LLC bought a new stake in shares of Chevron during the first quarter worth $202,000. KPP Advisory Services LLC raised its position in shares of Chevron by 27.6% during the first quarter. KPP Advisory Services LLC now owns 3,617 shares of the oil and gas company’s stock worth $605,000 after acquiring an additional 782 shares during the last quarter. Balefire LLC bought a new stake in shares of Chevron during the first quarter worth $314,000. Finally, Chung Wu Investment Group LLC bought a new stake in shares of Chevron during the first quarter worth $485,000. Institutional investors own 72.42% of the company’s stock.

Insider Activity

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 $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company’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 owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Morgan Stanley initiated coverage on Chevron in a report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective for the company. Piper Sandler upped their price objective on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Raymond James Financial reiterated an “outperform” rating and issued a $160.00 price objective (down previously from $170.00) on shares of Chevron in a report on Friday, October 17th. Finally, Melius initiated 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 given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $165.25.

Chevron Stock Down 0.6%

NYSE:CVX opened at $155.63 on Friday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The stock has a market cap of $268.92 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 4.45 and a beta of 0.84. The stock has a 50-day moving average price of $156.04 and a two-hundred day moving average price of $148.38.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.55 earnings per share. As a group, equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is currently 88.03%.

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.