Logan Capital Management Inc. Buys 6,919 Shares of Chevron Corporation $CVX

Logan Capital Management Inc. boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 3.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 182,650 shares of the oil and gas company’s stock after purchasing an additional 6,919 shares during the quarter. Chevron comprises 1.4% of Logan Capital Management Inc.’s portfolio, making the stock its 11th largest holding. Logan Capital Management Inc.’s holdings in Chevron were worth $30,556,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd boosted its position in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP acquired a new position in shares of Chevron during the first quarter worth approximately $31,000. 10Elms LLP acquired a new position in shares of Chevron during the fourth quarter worth approximately $29,000. IFS Advisors LLC lifted its holdings in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after buying an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC acquired a new position in shares of Chevron during the first quarter worth approximately $39,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $154.17 on Tuesday. The business has a fifty day simple moving average of $153.91 and a 200 day simple moving average of $148.78. 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 $266.41 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.28 and a beta of 0.90. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.55 earnings per share. Sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron’s dividend payout ratio is currently 88.03%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction 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 transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction 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 transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. HSBC lowered Chevron from a “buy” rating to a “hold” rating and cut their price target for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Wells Fargo & Company reiterated an “overweight” rating and set a $178.00 price target on shares of Chevron in a report on Friday, August 1st. Melius assumed coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Mizuho cut their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Finally, UBS Group upped their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $163.95.

About Chevron

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.