79,446 Shares in Chevron Corporation $CVX Bought by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC purchased a new position in Chevron Corporation (NYSE:CVX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 79,446 shares of the oil and gas company’s stock, valued at approximately $13,169,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Midwest Capital Advisors LLC purchased a new stake in shares of Chevron during the first quarter worth about $25,000. Core Wealth Advisors LLC bought a new stake in Chevron during the 4th quarter valued at approximately $26,000. Phillip James Consulting Co. purchased a new position in Chevron in the 4th quarter worth approximately $26,000. Basso Capital Management L.P. purchased a new position in Chevron in the 4th quarter worth approximately $27,000. Finally, Karpus Management Inc. bought a new position in Chevron in the 4th quarter worth approximately $27,000. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CVX has been the topic of several recent analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. Mizuho set a $224.00 target price on shares of Chevron in a research report on Monday, August 3rd. Dbs Bank raised shares of Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Thursday, July 2nd. Finally, TD Cowen increased their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Twenty equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $207.13.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Major Angola discovery expands Chevron’s resource base. Chevron’s 105-4X exploration well in offshore Angola’s Block 0 encountered a hydrocarbon column exceeding 600 meters (about 2,000 feet), including more than 90 meters of net pay in the primary Pinda reservoir. The size of the find strengthens the company’s long-term production outlook and supports its strategic exploration program in Sub-Saharan Africa. Reuters article
• Positive Sentiment: Potential tie-in could reduce development costs. The discovery is located near existing Block 0 infrastructure, creating the possibility of a relatively efficient tie-back and potentially accelerating development while limiting capital requirements. However, commerciality, appraisal work and a development timeline have not yet been established. Chevron Stock Rises After Major Angola Discovery
• Positive Sentiment: Higher oil prices provide additional sector support. Reports that Brent crude was approaching $89 a barrel amid continued disruption and uncertainty around the Strait of Hormuz are supportive of Chevron’s upstream revenue and cash-flow prospects, although the geopolitical situation also raises market and operating risks. Brent Crude Nears $89
• Neutral Sentiment: Income appeal remains part of the investment case. Chevron continues to be highlighted by analysts as a dividend-paying energy major with potential upside, but the dividend coverage and valuation were not materially changed by these reports. Dividend Stocks Article

Insider Transactions at Chevron

In other news, Director John B. Hess sold 710,665 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total value of $137,940,076.50. Following the completion of the sale, the director directly owned 363,711 shares of the company’s stock, valued at $70,596,305.10. This trade represents a 66.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael K. Wirth sold 5,547 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $4,919,596. This represents a 17.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,196,212 shares of company stock valued at $231,819,366. 0.56% of the stock is owned by insiders.

Chevron Trading Up 1.4%

Shares of CVX opened at $202.75 on Tuesday. The company’s fifty day moving average is $183.57 and its 200 day moving average is $187.25. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The stock has a market capitalization of $400.59 billion, a PE ratio of 19.44, a P/E/G ratio of 0.61 and a beta of 0.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same quarter last year, the business earned $1.77 earnings per share. Chevron’s quarterly revenue was up 57.4% compared to the same quarter last year. Sell-side analysts expect that Chevron Corporation will post 15.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.5%. Chevron’s dividend payout ratio (DPR) is presently 68.26%.

Chevron 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.