Klingman & Associates LLC Takes Position in Chevron Co. (NYSE:CVX)

Klingman & Associates LLC acquired a new stake in Chevron Co. (NYSE:CVXGet Rating) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,635 shares of the oil and gas company’s stock, valued at approximately $591,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. AIA Group Ltd boosted its stake in shares of Chevron by 63.3% in the first quarter. AIA Group Ltd now owns 1,460 shares of the oil and gas company’s stock worth $238,000 after acquiring an additional 566 shares during the last quarter. IndexIQ Advisors LLC boosted its stake in shares of Chevron by 269.3% in the first quarter. IndexIQ Advisors LLC now owns 28,820 shares of the oil and gas company’s stock worth $4,693,000 after acquiring an additional 21,015 shares during the last quarter. Independent Advisor Alliance boosted its stake in shares of Chevron by 50.8% in the first quarter. Independent Advisor Alliance now owns 112,092 shares of the oil and gas company’s stock worth $18,252,000 after acquiring an additional 37,758 shares during the last quarter. Anchor Capital Advisors LLC acquired a new stake in shares of Chevron in the first quarter worth approximately $34,462,000. Finally, Valley National Advisers Inc. boosted its stake in shares of Chevron by 3.0% in the first quarter. Valley National Advisers Inc. now owns 20,363 shares of the oil and gas company’s stock worth $3,316,000 after acquiring an additional 592 shares during the last quarter. 65.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Cowen lowered their price objective on Chevron from $179.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, July 1st. Truist Financial lowered their price objective on Chevron from $170.00 to $166.00 and set a “hold” rating on the stock in a research note on Tuesday, July 19th. HSBC raised Chevron from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 20th. Societe Generale raised Chevron from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their price objective on Chevron from $181.00 to $185.00 and gave the stock an “overweight” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.00.

Insiders Place Their Bets

In other Chevron news, insider David A. Inchausti sold 5,600 shares of the company’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $164.85, for a total transaction of $923,160.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider David A. Inchausti sold 5,600 shares of the company’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $164.85, for a total transaction of $923,160.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Enrique Hernandez, Jr. sold 39,773 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $173.99, for a total value of $6,920,104.27. Following the transaction, the director now directly owns 22,978 shares of the company’s stock, valued at $3,997,942.22. The disclosure for this sale can be found here. Insiders have sold a total of 399,043 shares of company stock worth $67,010,843 in the last quarter. 0.32% of the stock is owned by company insiders.

Chevron Price Performance

CVX stock opened at $151.14 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $296.96 billion, a PE ratio of 10.08, a P/E/G ratio of 0.63 and a beta of 1.15. Chevron Co. has a 12-month low of $92.86 and a 12-month high of $182.40. The business’s fifty day moving average price is $154.86 and its 200 day moving average price is $155.19.

Chevron (NYSE:CVXGet Rating) last issued its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, topping the consensus estimate of $4.66 by $1.16. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The company had revenue of $68.76 billion for the quarter, compared to the consensus estimate of $57.69 billion. During the same quarter in the prior year, the business earned $1.71 EPS. Chevron’s revenue was up 82.9% on a year-over-year basis. On average, sell-side analysts anticipate that Chevron Co. will post 17.51 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 19th will be issued a dividend of $1.42 per share. The ex-dividend date is Thursday, August 18th. This represents a $5.68 annualized dividend and a yield of 3.76%. Chevron’s dividend payout ratio (DPR) is 37.89%.

Chevron Profile

(Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

See Also

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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