Chevron Corporation $CVX Shares Purchased by Northstar Financial Companies Inc.

Northstar Financial Companies Inc. boosted its position in Chevron Corporation (NYSE:CVX) by 12.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,540 shares of the oil and gas company’s stock after purchasing an additional 1,168 shares during the quarter. Chevron comprises approximately 1.9% of Northstar Financial Companies Inc.’s investment portfolio, making the stock its 10th largest position. Northstar Financial Companies Inc.’s holdings in Chevron were worth $1,763,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC increased its stake in shares of Chevron by 0.3% in the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock worth $4,091,000 after acquiring an additional 71 shares during the last quarter. GDS Wealth Management increased its stake in shares of Chevron by 4.4% in the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock worth $285,000 after acquiring an additional 72 shares during the last quarter. AIMZ Investment Advisors LLC increased its stake in shares of Chevron by 4.2% in the 1st quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company’s stock worth $298,000 after acquiring an additional 72 shares during the last quarter. Clayton Financial Group LLC increased its stake in shares of Chevron by 4.6% in the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock worth $285,000 after acquiring an additional 75 shares during the last quarter. Finally, Gill Capital Partners LLC increased its stake in shares of Chevron by 4.9% in the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company’s stock worth $271,000 after acquiring an additional 75 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 1.1%

NYSE CVX opened at $159.14 on Thursday. The firm has a 50 day simple moving average of $151.84 and a 200-day simple moving average of $148.78. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market cap of $274.99 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.33 and a beta of 0.87.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter last year, the business posted $2.55 EPS. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. Equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is 88.03%.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 375,000 shares of the firm’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 sale, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CVX shares. Mizuho cut their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Piper Sandler raised their target price on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Scotiabank reiterated a “sector perform” rating and set a $160.00 price target (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Finally, Melius Research began coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $163.95.

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.