Cadent Capital Advisors LLC Purchases 406 Shares of Chevron Co. (NYSE:CVX)

Cadent Capital Advisors LLC boosted its stake in Chevron Co. (NYSE:CVXGet Rating) by 16.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,949 shares of the oil and gas company’s stock after acquiring an additional 406 shares during the period. Cadent Capital Advisors LLC’s holdings in Chevron were worth $480,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of Chevron by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 32,250,237 shares of the oil and gas company’s stock worth $3,776,323,000 after purchasing an additional 667,875 shares in the last quarter. Norges Bank purchased a new position in Chevron during the fourth quarter valued at approximately $3,111,594,000. Charles Schwab Investment Management Inc. grew its stake in Chevron by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,507,398 shares of the oil and gas company’s stock valued at $1,702,446,000 after acquiring an additional 254,353 shares in the last quarter. Invesco Ltd. grew its stake in Chevron by 6.8% during the fourth quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock valued at $1,689,870,000 after acquiring an additional 917,773 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Chevron by 4.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,326,228 shares of the oil and gas company’s stock valued at $977,069,000 after acquiring an additional 346,881 shares in the last quarter. Institutional investors own 65.89% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, Director Wanda M. Austin sold 11,432 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $161.45, for a total value of $1,845,696.40. Following the sale, the director now owns 3,560 shares of the company’s stock, valued at approximately $574,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Chevron news, EVP Mark A. Nelson sold 117,400 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total value of $18,721,778.00. Following the transaction, the executive vice president now directly owns 788 shares in the company, valued at approximately $125,662.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Wanda M. Austin sold 11,432 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the transaction, the director now owns 3,560 shares in the company, valued at approximately $574,762. The disclosure for this sale can be found here. In the last ninety days, insiders sold 399,043 shares of company stock worth $67,010,843. 0.32% of the stock is currently owned by company insiders.

Chevron Price Performance

CVX opened at $151.14 on Friday. Chevron Co. has a 1 year low of $92.86 and a 1 year high of $182.40. The firm has a market capitalization of $296.96 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 0.63 and a beta of 1.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. The business’s 50-day moving average is $154.86 and its two-hundred day moving average is $155.19.

Chevron (NYSE:CVXGet Rating) last released its earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $1.16. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The firm had revenue of $68.76 billion during the quarter, compared to the consensus estimate of $57.69 billion. During the same quarter in the previous year, the company posted $1.71 earnings per share. The company’s revenue was up 82.9% compared to the same quarter last year. Research analysts anticipate that Chevron Co. will post 17.51 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on CVX shares. Credit Suisse Group boosted their price objective on shares of Chevron from $190.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, June 9th. Citigroup dropped their target price on shares of Chevron from $170.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 13th. Wells Fargo & Company lifted their target price on shares of Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday. Cowen dropped their target price on shares of Chevron from $179.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, July 1st. Finally, Truist Financial lowered their price objective on shares of Chevron from $170.00 to $166.00 and set a “hold” rating for the company in a report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.00.

About Chevron

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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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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