Sonata Capital Group Inc. Acquires 100 Shares of Chevron Corporation $CVX

Sonata Capital Group Inc. raised its holdings in Chevron Corporation (NYSE:CVX) by 5.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,020 shares of the oil and gas company’s stock after purchasing an additional 100 shares during the quarter. Sonata Capital Group Inc.’s holdings in Chevron were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. LifeWealth Investments LLC raised its stake in Chevron by 112.1% in the second quarter. LifeWealth Investments LLC now owns 4,643 shares of the oil and gas company’s stock valued at $665,000 after buying an additional 2,454 shares during the period. Granite Harbor Advisors Inc. raised its stake in Chevron by 21.7% in the second quarter. Granite Harbor Advisors Inc. now owns 3,332 shares of the oil and gas company’s stock valued at $477,000 after buying an additional 593 shares during the period. Freedom Investment Management Inc. raised its stake in Chevron by 13.1% in the second quarter. Freedom Investment Management Inc. now owns 8,245 shares of the oil and gas company’s stock valued at $1,181,000 after buying an additional 957 shares during the period. Forum Financial Management LP raised its stake in Chevron by 0.4% in the second quarter. Forum Financial Management LP now owns 33,007 shares of the oil and gas company’s stock valued at $4,726,000 after buying an additional 145 shares during the period. Finally, Greatmark Investment Partners Inc. raised its stake in Chevron by 10.8% in the second quarter. Greatmark Investment Partners Inc. now owns 32,129 shares of the oil and gas company’s stock valued at $4,601,000 after buying an additional 3,130 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the firm’s 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 transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the firm’s 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 in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $155.45 on Thursday. The firm has a market cap of $268.61 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 2.05 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The business’s 50 day moving average is $156.03 and its 200-day moving average is $148.13.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter last year, the company earned $2.55 EPS. The company’s revenue was down 12.4% on a year-over-year basis. Equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on CVX shares. Melius Research started coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. UBS Group upped their price objective on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Melius initiated coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Finally, Barclays lowered their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Chevron has an average rating of “Hold” and an average target price of $165.25.

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.