Glynn Capital Management LLC Purchases Shares of 5,889 Chevron Corporation $CVX

Glynn Capital Management LLC purchased a new stake in Chevron Corporation (NYSE:CVX) during the second quarter, HoldingsChannel.com reports. The fund purchased 5,889 shares of the oil and gas company’s stock, valued at approximately $843,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Analyst IMS Investment Management Services Ltd. lifted its position in Chevron by 1.0% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock worth $966,000 after acquiring an additional 67 shares during the last quarter. Greenfield Savings Bank grew its position in shares of Chevron by 0.6% in the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after purchasing an additional 68 shares during the last quarter. Atwater Malick LLC increased its stake in shares of Chevron by 2.4% in the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 68 shares during the period. Hubbell Strickland Wealth Management LLC lifted its position in shares of Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock worth $1,443,000 after purchasing an additional 68 shares during the last quarter. Finally, Clarity Wealth Advisors LLC boosted its stake in Chevron by 1.7% during the 2nd quarter. Clarity Wealth Advisors LLC now owns 4,170 shares of the oil and gas company’s stock valued at $597,000 after purchasing an additional 69 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.3%

CVX opened at $156.05 on Wednesday. The company has a market capitalization of $269.65 billion, a P/E ratio of 20.08, a P/E/G ratio of 4.40 and a beta of 0.83. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The firm’s fifty day moving average price is $155.33 and its two-hundred day moving average price is $150.04. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter in the prior year, the company posted $2.48 EPS. The business’s revenue was down 1.9% on a year-over-year basis. On average, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio is 96.20%.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVX. Mizuho dropped their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Morgan Stanley boosted their target price on shares of Chevron from $174.00 to $177.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Raymond James Financial reiterated an “outperform” rating and set a $160.00 target price (down from $170.00) on shares of Chevron in a research note on Friday, October 17th. Piper Sandler decreased their price target on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Barclays dropped their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $165.45.

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.