Nippon Life Global Investors Americas Inc. Purchases New Stake in Chevron Corporation $CVX

Nippon Life Global Investors Americas Inc. acquired a new stake in shares of Chevron Corporation (NYSE:CVX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 151,960 shares of the oil and gas company’s stock, valued at approximately $25,189,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. United Bank grew its stake in Chevron by 7.7% in the second quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after purchasing an additional 796 shares in the last quarter. Schnieders Capital Management LLC. raised its stake in Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock valued at $7,280,000 after buying an additional 4,214 shares in the last quarter. BNP Paribas lifted its holdings in Chevron by 76.4% during the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after buying an additional 191 shares during the last quarter. Osterweis Capital Management Inc. lifted its holdings in Chevron by 678.9% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock worth $195,000 after buying an additional 1,188 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its position in shares of Chevron by 3.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after acquiring an additional 553 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 5,547 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total value of $1,037,289.00. Following the sale, the chief executive officer owned 26,308 shares of the company’s stock, valued at $4,919,596. This trade represents a 17.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hess sold 710,665 shares of Chevron stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the sale, the director owned 363,711 shares in the company, valued at approximately $70,596,305.10. This represents a 66.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,196,212 shares of company stock valued at $231,819,366. Corporate insiders own 0.56% of the company’s stock.

Chevron Stock Down 0.0%

NYSE:CVX opened at $199.99 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average of $183.30 and a 200-day moving average of $187.01. The firm has a market capitalization of $395.13 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 0.61 and a beta of 0.49. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71.

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, topping 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 business had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. During the same quarter last year, the business posted $1.77 EPS. The business’s revenue was up 57.4% on a year-over-year basis. Analysts predict that Chevron Corporation will post 15.86 EPS for the current year.

Chevron Announces Dividend

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

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research analyst reports. Barclays boosted their price target on Chevron from $213.00 to $216.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Weiss Ratings upgraded Chevron from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. UBS Group reaffirmed a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Jefferies Financial Group reiterated a “buy” rating and set a $216.00 target price on shares of Chevron in a research note on Friday, July 10th. Finally, Scotiabank increased their target price on shares of Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Twenty investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $207.48.

Chevron Company 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.