Rydar Equities Inc. Makes New $680,000 Investment in Chevron Corporation $CVX

Rydar Equities Inc. purchased a new stake in Chevron Corporation (NYSE:CVX) during the 2nd quarter, HoldingsChannel reports. The fund purchased 4,752 shares of the oil and gas company’s stock, valued at approximately $680,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC raised its stake in Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares in the last quarter. Norges Bank bought a new position in shares of Chevron in the 2nd quarter worth $2,721,477,000. Laurel Wealth Advisors LLC increased its holdings in shares of Chevron by 14,194.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock worth $532,984,000 after buying an additional 3,696,177 shares during the last quarter. Berkshire Hathaway Inc raised its position in shares of Chevron by 2.9% during the 2nd quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock valued at $17,478,458,000 after buying an additional 3,454,258 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Chevron by 4.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock worth $4,979,255,000 after acquiring an additional 1,342,723 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research analyst reports. Hsbc Global Res raised Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Barclays reduced their price objective on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Melius began coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. HSBC set a $169.00 target price on Chevron and gave the stock a “buy” rating in a research note on Monday, December 1st. Finally, UBS Group reissued a “buy” rating on shares of Chevron in a research note on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $166.00.

Chevron Trading Down 0.1%

Shares of CVX opened at $149.88 on Tuesday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $152.66 and its 200-day moving average price is $152.28. The firm has a market capitalization of $301.78 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 8.91 and a beta of 0.68.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The business had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. During the same period last year, the business posted $2.48 earnings per share. Chevron’s quarterly revenue was down 1.9% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s dividend payout ratio is presently 96.20%.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 275,000 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.21% of the company’s stock.

Chevron Company 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.