Csenge Advisory Group Has $4.42 Million Stock Holdings in Chevron Corporation $CVX

Csenge Advisory Group boosted its holdings in shares of Chevron Corporation (NYSE:CVX) by 14.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,315 shares of the oil and gas company’s stock after buying an additional 4,143 shares during the period. Csenge Advisory Group’s holdings in Chevron were worth $4,417,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CVX. Penserra Capital Management LLC lifted its holdings in shares of Chevron by 17.6% in the first quarter. Penserra Capital Management LLC now owns 5,155 shares of the oil and gas company’s stock valued at $862,000 after purchasing an additional 773 shares in the last quarter. Capital Management Associates Inc purchased a new position in Chevron during the first quarter worth about $204,000. China Universal Asset Management Co. Ltd. boosted its holdings in Chevron by 10.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,489 shares of the oil and gas company’s stock worth $1,587,000 after purchasing an additional 887 shares during the last quarter. Ninety One UK Ltd purchased a new position in Chevron during the first quarter worth about $40,044,000. Finally, Consolidated Capital Management LLC purchased a new position in Chevron during the first quarter worth about $229,000. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVX. Evercore ISI restated an “outperform” rating and set a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Melius Research initiated 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. Raymond James Financial reiterated an “outperform” rating and issued a $160.00 price objective (down previously from $170.00) on shares of Chevron in a research report on Friday, October 17th. Morgan Stanley upped their price objective on Chevron from $174.00 to $177.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Piper Sandler upped their price objective on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $165.40.

Chevron Stock Down 0.4%

Shares of Chevron stock opened at $153.36 on Wednesday. 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 stock has a market capitalization of $265.00 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 4.40 and a beta of 0.84. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a 50-day simple moving average of $155.91 and a two-hundred day simple moving average of $149.43.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $49.73 billion for the quarter, compared to the consensus estimate of $46.99 billion. During the same period in the prior year, the company posted $2.48 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. On average, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.5%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

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.