Mill Capital Management LLC Takes Position in Chevron Corporation $CVX

Mill Capital Management LLC acquired a new position in shares of Chevron Corporation (NYSE:CVX) in the 2nd quarter, Holdings Channel reports. The fund acquired 27,354 shares of the oil and gas company’s stock, valued at approximately $4,534,000.

Other hedge funds have also modified their holdings of the company. Midwest Capital Advisors LLC bought a new stake in Chevron in the 1st quarter valued at approximately $25,000. Main Street Group LTD acquired a new position in Chevron during the 1st quarter worth approximately $28,000. Phillip James Consulting Co. bought a new position in shares of Chevron during the 4th quarter worth approximately $26,000. Core Wealth Advisors LLC bought a new position in shares of Chevron during the 4th quarter worth approximately $26,000. Finally, Karpus Management Inc. acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $27,000. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 100,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the sale, the director directly owned 178,045 shares of the company’s stock, valued at approximately $34,587,021.70. This represents a 35.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 5,547 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the completion of the sale, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $4,919,596. This represents a 17.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,196,212 shares of company stock worth $231,819,366 over the last ninety days. Insiders own 0.56% of the company’s stock.

Chevron Stock Up 1.2%

NYSE:CVX opened at $199.99 on Friday. The firm has a market capitalization of $395.13 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The stock’s 50 day moving average price is $183.30 and its two-hundred day moving average price is $186.88. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. The company had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business’s revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.77 EPS. Equities research analysts expect that Chevron Corporation will post 15.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Weiss Ratings raised shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday. Sanford C. Bernstein raised their target price on shares of Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $220.00 price target on shares of Chevron in a research note on Tuesday, May 5th. Scotiabank boosted their price target on shares of Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Piper Sandler started coverage on shares of Chevron in a research report on Thursday, July 23rd. They set an “overweight” rating and a $207.00 price target on the stock. Twenty equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company 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.