Dearborn Partners LLC Purchases New Position in Chevron Corporation $CVX

Dearborn Partners LLC purchased a new stake in Chevron Corporation (NYSE:CVX) during the second quarter, HoldingsChannel.com reports. The firm purchased 32,951 shares of the oil and gas company’s stock, valued at approximately $6,818,000.

Several other large investors have also recently added to or reduced their stakes in the company. Brooks Moore & Associates Inc. increased its holdings in shares of Chevron by 6.5% during the second quarter. Brooks Moore & Associates Inc. now owns 31,214 shares of the oil and gas company’s stock worth $5,174,000 after buying an additional 1,900 shares in the last quarter. WNY Asset Management LLC raised its stake in shares of Chevron by 2.0% in the second quarter. WNY Asset Management LLC now owns 3,960 shares of the oil and gas company’s stock valued at $656,000 after acquiring an additional 76 shares during the last quarter. Caitlin John LLC boosted its holdings in shares of Chevron by 31.3% in the 2nd quarter. Caitlin John LLC now owns 537 shares of the oil and gas company’s stock worth $89,000 after acquiring an additional 128 shares in the last quarter. Ruggaard & Associates LLC boosted its holdings in shares of Chevron by 2.2% in the 2nd quarter. Ruggaard & Associates LLC now owns 4,783 shares of the oil and gas company’s stock worth $793,000 after acquiring an additional 103 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its holdings in shares of Chevron by 4.6% in the 2nd quarter. Centaurus Financial Inc. now owns 13,220 shares of the oil and gas company’s stock worth $2,191,000 after acquiring an additional 586 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 0.1%

Shares of CVX opened at $199.91 on Friday. The business’s fifty day moving average price is $186.87 and its two-hundred day moving average price is $188.76. The firm has a market capitalization of $394.98 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 0.60 and a beta of 0.49. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.77 earnings per share. On average, analysts predict that Chevron Corporation will post 16.17 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s payout ratio is currently 68.26%.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 710,665 shares of Chevron stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the sale, the director owned 363,711 shares in the company, valued at $70,596,305.10. The trade was a 66.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael K. Wirth sold 317,100 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the sale, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,152,582 shares of company stock valued at $225,853,661. 0.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVX. Weiss Ratings raised Chevron from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Sanford C. Bernstein boosted their price objective on Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. TD Cowen increased their target price on Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Barclays lowered their target price on Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a research note on Monday, August 17th. Finally, Mizuho set a $224.00 price target on Chevron in a report on Monday, August 3rd. Twenty analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.