Bailard Inc. Increases Stock Position in Chevron Corporation $CVX

Bailard Inc. increased its holdings in Chevron Corporation (NYSE:CVX) by 13.2% during the second quarter, HoldingsChannel.com reports. The fund owned 98,838 shares of the oil and gas company’s stock after buying an additional 11,552 shares during the period. Bailard Inc.’s holdings in Chevron were worth $14,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC raised its stake in shares of Chevron by 652,139.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after acquiring an additional 1,574,464 shares during the period. Invesco Ltd. boosted its holdings in shares of Chevron by 5.5% in the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after acquiring an additional 827,851 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Chevron by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after acquiring an additional 40,758 shares during the period. Finally, GQG Partners LLC purchased a new position in Chevron during the first quarter worth about $1,466,751,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CVX. Melius initiated coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Piper Sandler lowered their price target on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research note on Monday. Morgan Stanley raised their price objective on shares of Chevron from $174.00 to $177.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Melius Research assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $165.45.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were 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 directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Alana K. Knowles sold 3,978 shares of the business’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 completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $156.05 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 company has a market cap of $269.65 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a 50 day moving average price of $155.33 and a 200 day moving average price of $150.04.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same period last year, the company posted $2.48 EPS. The business’s quarterly revenue was down 1.9% on a year-over-year basis. Sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors 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 dividend yield of 4.4%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

Chevron Profile

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.