SouthState Corp Grows Holdings in Chevron Co. (NYSE:CVX)

SouthState Corp increased its position in shares of Chevron Co. (NYSE:CVXGet Rating) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,818 shares of the oil and gas company’s stock after buying an additional 1,422 shares during the period. SouthState Corp’s holdings in Chevron were worth $12,345,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Your Advocates Ltd. LLP purchased a new position in shares of Chevron during the first quarter valued at $25,000. Joseph P. Lucia & Associates LLC bought a new stake in Chevron during the first quarter valued at about $30,000. Joseph Group Capital Management bought a new stake in Chevron during the fourth quarter valued at about $1,105,000. Rational Advisors LLC boosted its position in Chevron by 116.3% during the fourth quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 121 shares in the last quarter. Finally, Steward Financial Group LLC boosted its position in Chevron by 932.0% during the first quarter. Steward Financial Group LLC now owns 258 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 65.89% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citigroup dropped their price objective on Chevron from $170.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 13th. Wells Fargo & Company raised their price objective on Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday. Credit Suisse Group raised their price target on Chevron from $190.00 to $202.00 and gave the stock an “outperform” rating in a report on Thursday, June 9th. The Goldman Sachs Group reissued a “neutral” rating and issued a $172.00 price target on shares of Chevron in a report on Thursday. Finally, Truist Financial lowered their price target on Chevron from $170.00 to $166.00 and set a “hold” rating for the company in a report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $173.00.

Chevron Stock Down 2.7 %

Shares of CVX stock opened at $151.14 on Friday. The stock has a 50 day moving average of $154.86 and a 200 day moving average of $155.19. 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 stock has a market cap of $296.96 billion, a P/E ratio of 10.08, a P/E/G ratio of 0.63 and a beta of 1.15. Chevron Co. has a twelve month low of $92.86 and a twelve month high of $182.40.

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

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 19th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Thursday, August 18th. Chevron’s dividend payout ratio (DPR) is presently 37.89%.

Insider Activity

In other news, EVP Mark A. Nelson sold 117,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $159.47, for a total value of $18,721,778.00. Following the completion of the sale, the executive vice president now directly owns 788 shares in the company, valued at $125,662.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Mark A. Nelson sold 117,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $159.47, for a total transaction of $18,721,778.00. Following the completion of the sale, the executive vice president now directly owns 788 shares in the company, valued at $125,662.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wanda M. Austin sold 11,432 shares of the business’s stock in a transaction that occurred on 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 $574,762. The disclosure for this sale can be found here. Insiders sold 399,043 shares of company stock worth $67,010,843 over the last three months. 0.32% of the stock is currently owned by corporate insiders.

About Chevron

(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.

Featured Articles

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVXGet Rating).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.