Chase Investment Counsel Corp Takes Position in Chevron Corporation $CVX

Chase Investment Counsel Corp bought a new position in Chevron Corporation (NYSE:CVX) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 3,315 shares of the oil and gas company’s stock, valued at approximately $549,000.

Other institutional investors have also recently bought and sold shares of the company. Cornerstone Advisory LLC raised its stake in Chevron by 0.9% during the first quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock worth $1,164,000 after purchasing an additional 52 shares during the period. Compton Financial Group LLC boosted its holdings in shares of Chevron by 1.9% in the 1st quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock valued at $609,000 after purchasing an additional 56 shares during the last quarter. Quantum Portfolio Management LLC grew its stake in shares of Chevron by 2.7% during the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock valued at $435,000 after buying an additional 56 shares during the period. Wealthspire Retirement LLC grew its stake in shares of Chevron by 0.9% during the 1st quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company’s stock valued at $1,351,000 after buying an additional 56 shares during the period. Finally, D.B. Root & Company LLC increased its holdings in shares of Chevron by 1.0% during the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock worth $846,000 after buying an additional 57 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Bank of America increased their target price on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. The Goldman Sachs Group restated a “buy” rating and set a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. Wolfe Research upgraded Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Thursday, July 2nd. Finally, Barclays lifted their price objective on Chevron from $213.00 to $216.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Twenty investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $207.48.

Chevron Stock Performance

NYSE:CVX opened at $199.99 on Monday. The firm’s fifty day simple moving average is $183.30 and its 200 day simple moving average is $187.01. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The firm has a market capitalization of $395.13 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 0.61 and a beta of 0.49.

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

Chevron Dividend Announcement

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

Insider Transactions at Chevron

In related news, Director John B. Hess sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was 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 in the company, valued at approximately $34,587,021.70. This trade represents a 35.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael K. Wirth sold 5,547 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total value of $1,037,289.00. Following the transaction, the chief executive officer directly owned 26,308 shares in the company, valued at $4,919,596. This trade represents a 17.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,196,212 shares of company stock valued at $231,819,366. Insiders own 0.56% of the company’s stock.

Chevron 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.