Chevron Corporation $CVX Shares Acquired by Alley Investment Management Company LLC

Alley Investment Management Company LLC lifted its position in shares of Chevron Corporation (NYSE:CVX) by 1.8% during the second quarter, HoldingsChannel reports. The fund owned 115,103 shares of the oil and gas company’s stock after acquiring an additional 2,089 shares during the quarter. Chevron comprises 2.0% of Alley Investment Management Company LLC’s holdings, making the stock its 21st biggest position. Alley Investment Management Company LLC’s holdings in Chevron were worth $16,482,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Broadway Wealth Solutions Inc. increased its stake in shares of Chevron by 5.2% during the second quarter. Broadway Wealth Solutions Inc. now owns 2,570 shares of the oil and gas company’s stock worth $368,000 after acquiring an additional 126 shares during the period. Powers Advisory Group LLC increased its stake in shares of Chevron by 3.5% during the second quarter. Powers Advisory Group LLC now owns 5,437 shares of the oil and gas company’s stock worth $779,000 after acquiring an additional 186 shares during the period. Bourgeon Capital Management LLC increased its stake in shares of Chevron by 8.6% during the second quarter. Bourgeon Capital Management LLC now owns 13,841 shares of the oil and gas company’s stock worth $1,982,000 after acquiring an additional 1,097 shares during the period. FMB Wealth Management increased its stake in shares of Chevron by 2.5% during the second quarter. FMB Wealth Management now owns 8,423 shares of the oil and gas company’s stock worth $1,206,000 after acquiring an additional 208 shares during the period. Finally, Chicago Capital LLC grew its position in Chevron by 5.0% during the second quarter. Chicago Capital LLC now owns 11,546 shares of the oil and gas company’s stock worth $1,653,000 after buying an additional 551 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director John B. Hess sold 375,000 shares of the stock in a transaction on 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 sale, the director 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent analyst reports. Scotiabank restated a “sector perform” rating and set a $160.00 target price (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Barclays restated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Bank of America upped their target price on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Wells Fargo & Company restated an “overweight” rating and set a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Finally, UBS Group increased their price target on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $165.05.

Chevron Stock Performance

Shares of CVX opened at $155.38 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market capitalization of $268.50 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 1.95 and a beta of 0.90. The company’s 50 day simple moving average is $156.27 and its 200 day simple moving average is $149.14. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron’s revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.55 earnings per share. On average, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Chevron Company 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.