Creekmur Asset Management LLC Raises Stake in Chevron Corporation $CVX

Creekmur Asset Management LLC increased its stake in shares of Chevron Corporation (NYSE:CVX) by 36.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,346 shares of the oil and gas company’s stock after purchasing an additional 1,712 shares during the period. Creekmur Asset Management LLC’s holdings in Chevron were worth $909,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CVX. Kingstone Capital Partners Texas LLC raised its holdings in shares of Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after acquiring an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after acquiring an additional 1,574,464 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Chevron by 5.5% in the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after acquiring an additional 827,851 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Chevron by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock valued at $2,054,513,000 after acquiring an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC purchased a new stake in shares of Chevron in the 1st quarter valued at about $1,466,751,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $153.36 on Friday. 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 firm has a market capitalization of $265.00 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 4.40 and a beta of 0.84. The business’s 50-day moving average price is $156.08 and its 200-day moving average price is $148.85. Chevron Corporation has a 12 month low of $132.04 and a 12 month 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 (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $44.59 billion. During the same period last year, the company earned $2.55 EPS. Chevron’s revenue for the quarter was down 12.4% compared to the same quarter last year. Sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Piper Sandler raised their price target on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a report on Friday, July 18th. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Bank of America increased their price objective on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $160.00 price objective (down from $170.00) on shares of Chevron in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $165.25.

Chevron 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.