Bridge Advisory LLC Purchases 163 Shares of Chevron Co. (NYSE:CVX)

Bridge Advisory LLC raised its stake in shares of Chevron Co. (NYSE:CVXGet Rating) by 12.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,458 shares of the oil and gas company’s stock after acquiring an additional 163 shares during the quarter. Bridge Advisory LLC’s holdings in Chevron were worth $203,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Chevron by 2.5% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 40,143 shares of the oil and gas company’s stock valued at $4,711,000 after purchasing an additional 977 shares during the last quarter. Pitcairn Co. lifted its holdings in shares of Chevron by 2.1% during the 4th quarter. Pitcairn Co. now owns 15,055 shares of the oil and gas company’s stock valued at $1,767,000 after purchasing an additional 311 shares during the last quarter. Mmbg Investment Advisors CO. purchased a new stake in shares of Chevron during the 4th quarter valued at $305,000. IHT Wealth Management LLC lifted its holdings in shares of Chevron by 2.8% during the 4th quarter. IHT Wealth Management LLC now owns 14,863 shares of the oil and gas company’s stock valued at $1,744,000 after purchasing an additional 409 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of Chevron by 8.5% during the 4th quarter. LPL Financial LLC now owns 1,656,719 shares of the oil and gas company’s stock valued at $194,416,000 after purchasing an additional 130,318 shares during the last quarter. Institutional investors own 69.30% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $154.89 on Friday. Chevron Co. has a fifty-two week low of $97.75 and a fifty-two week high of $182.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.31. The firm has a market capitalization of $304.33 billion, a P/E ratio of 10.33, a PEG ratio of 0.60 and a beta of 1.15. The stock has a 50-day simple moving average of $155.74 and a two-hundred day simple moving average of $160.31.

Chevron (NYSE:CVXGet Rating) last posted its earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $1.16. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The firm had revenue of $68.76 billion for the quarter, compared to analysts’ expectations of $57.69 billion. During the same period last year, the firm earned $1.71 EPS. The company’s quarterly revenue was up 82.9% on a year-over-year basis. On average, equities analysts forecast that Chevron Co. will post 18.37 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Thursday, August 18th. Chevron’s dividend payout ratio (DPR) is presently 37.89%.

Insider Activity

In other news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $164.01, for a total transaction of $13,990,053.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP James William Johnson sold 85,300 shares of Chevron stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $164.01, for a total value of $13,990,053.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Pierre R. Breber sold 22,500 shares of Chevron stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $161.39, for a total value of $3,631,275.00. Following the completion of the sale, the chief financial officer now owns 7 shares in the company, valued at $1,129.73. The disclosure for this sale can be found here. Insiders have sold 141,732 shares of company stock worth $23,024,499 in the last ninety days. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CVX shares. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and decreased their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 20th. Citigroup reduced their target price on Chevron from $170.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 13th. Cowen raised their target price on Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. Bank of America raised their target price on Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $172.00 target price on shares of Chevron in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $169.20.

About Chevron

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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