Bcwm LLC Purchases 5,528 Shares of Chevron Corporation $CVX

Bcwm LLC increased its position in Chevron Corporation (NYSE:CVX) by 19.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,368 shares of the oil and gas company’s stock after purchasing an additional 5,528 shares during the period. Bcwm LLC’s holdings in Chevron were worth $4,778,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Azimuth Capital Investment Management LLC lifted its position in Chevron by 22.6% in the 1st quarter. Azimuth Capital Investment Management LLC now owns 98,364 shares of the oil and gas company’s stock valued at $16,455,000 after acquiring an additional 18,123 shares in the last quarter. Horizon Investments LLC raised its stake in shares of Chevron by 2.3% in the first quarter. Horizon Investments LLC now owns 38,509 shares of the oil and gas company’s stock worth $6,442,000 after purchasing an additional 859 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Chevron by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after purchasing an additional 40,758 shares during the last quarter. Aberdeen Group plc lifted its holdings in shares of Chevron by 83.4% in the first quarter. Aberdeen Group plc now owns 856,947 shares of the oil and gas company’s stock valued at $144,049,000 after purchasing an additional 389,684 shares in the last quarter. Finally, Howard Wealth Management LLC purchased a new position in shares of Chevron during the first quarter valued at approximately $217,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.5%

CVX opened at $149.95 on Friday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company’s 50-day moving average price is $152.74 and its two-hundred day moving average price is $151.98. The stock has a market cap of $301.93 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 8.95 and a beta of 0.68. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The company had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter in the previous year, the firm posted $2.48 EPS. Chevron’s revenue was down 1.9% on a year-over-year basis. As a group, equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 4.6%. Chevron’s dividend payout ratio is presently 96.20%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CVX. Melius Research initiated coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective on the stock. Piper Sandler lowered their target price on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Mizuho boosted their price target on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a report on Friday. Wall Street Zen upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Barclays cut their target price on 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 research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $166.00.

Insiders Place Their Bets

In related news, Director John B. Hess sold 275,000 shares of Chevron stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

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.