JB Capital LLC Purchases 140 Shares of Chevron Corporation $CVX

JB Capital LLC lifted its position in Chevron Corporation (NYSE:CVX) by 3.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 4,421 shares of the oil and gas company’s stock after acquiring an additional 140 shares during the period. JB Capital LLC’s holdings in Chevron were worth $633,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC increased its stake in 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 worth $13,214,757,000 after buying an additional 83,702,101 shares during the period. GQG Partners LLC purchased a new position in Chevron in the 1st quarter worth about $1,466,751,000. Nuveen LLC purchased a new position in Chevron in the 1st quarter worth about $1,362,232,000. Charles Schwab Investment Management Inc. increased its stake in 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 worth $5,592,263,000 after buying an additional 1,574,464 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Chevron by 141.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after buying an additional 1,107,628 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Evercore ISI reissued an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Barclays cut their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Finally, Morgan Stanley initiated coverage on shares of Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price on the stock. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $165.40.

Chevron Stock Down 1.7%

NYSE:CVX opened at $149.11 on Friday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market capitalization of $257.66 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.95 and a beta of 0.84. 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’s 50-day simple moving average is $156.10 and its 200-day simple moving average is $148.67.

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

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred 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 owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

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.