SFE Investment Counsel Purchases Shares of 15,597 Chevron Corporation $CVX

SFE Investment Counsel purchased a new stake in Chevron Corporation (NYSE:CVX) in the 2nd quarter, HoldingsChannel reports. The fund purchased 15,597 shares of the oil and gas company’s stock, valued at approximately $2,585,000.

A number of other hedge funds also recently made changes to their positions in the stock. Indivisible Partners bought a new position in shares of Chevron during the 4th quarter worth approximately $1,923,000. Janney Montgomery Scott LLC increased its stake in shares of Chevron by 6.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock valued at $258,853,000 after acquiring an additional 79,439 shares in the last quarter. Galaxy Digital Inc. acquired a new position in shares of Chevron during the 1st quarter valued at $2,028,000. Osprey Private Wealth LLC lifted its position in shares of Chevron by 556.4% during the 4th quarter. Osprey Private Wealth LLC now owns 9,190 shares of the oil and gas company’s stock valued at $1,401,000 after acquiring an additional 7,790 shares during the period. Finally, World Investment Advisors lifted its position in shares of Chevron by 24.2% during the 4th quarter. World Investment Advisors now owns 85,213 shares of the oil and gas company’s stock valued at $12,987,000 after acquiring an additional 16,596 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

CVX opened at $199.99 on Friday. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The company has a market cap of $395.13 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 0.61 and a beta of 0.49. The company’s fifty day moving average price is $183.30 and its two-hundred day moving average price is $186.88. 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 (NYSE:CVX) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business’s revenue was up 57.4% on a year-over-year basis. During the same period last year, the company earned $1.77 earnings per share. On average, analysts expect that Chevron Corporation will post 15.86 EPS for the current fiscal year.

Chevron Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on CVX. Wall Street Zen upgraded shares of Chevron from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Wolfe Research upgraded shares of 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. Bank of America increased their price objective on shares of Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Barclays raised their target price on Chevron from $213.00 to $216.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings raised Chevron from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday. Twenty equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.48.

Insider Buying and Selling

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

About Chevron

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.