Chevron Co. (NYSE:CVX) Shares Acquired by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lifted its position in Chevron Co. (NYSE:CVXGet Rating) by 5.0% in the second quarter, Holdings Channel reports. The firm owned 618,685 shares of the oil and gas company’s stock after acquiring an additional 29,606 shares during the period. Chevron accounts for approximately 1.0% of Gateway Investment Advisers LLC’s holdings, making the stock its 19th biggest position. Gateway Investment Advisers LLC’s holdings in Chevron were worth $89,573,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Your Advocates Ltd. LLP acquired a new stake in shares of Chevron in the 1st quarter valued at about $25,000. Cordant Inc. acquired a new stake in shares of Chevron in the 1st quarter valued at about $29,000. Joseph P. Lucia & Associates LLC acquired a new stake in shares of Chevron in the 1st quarter valued at about $30,000. Landmark Wealth Management LLC acquired a new stake in shares of Chevron in the 1st quarter valued at about $34,000. Finally, Byrne Asset Management LLC acquired a new stake in shares of Chevron in the 4th quarter valued at about $36,000. 69.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chevron

In related news, EVP James William Johnson sold 85,300 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $164.01, for a total value of $13,990,053.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP James William Johnson sold 85,300 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $164.01, for a total value of $13,990,053.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Pierre R. Breber sold 22,500 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $161.39, for a total transaction of $3,631,275.00. Following the completion of the transaction, the chief financial officer now directly owns 7 shares of the company’s stock, valued at approximately $1,129.73. The disclosure for this sale can be found here. Insiders have sold a total of 141,732 shares of company stock valued at $23,024,499 over the last quarter. Insiders own 0.32% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $154.89 on Friday. Chevron Co. has a 1-year low of $97.75 and a 1-year high of $182.40. The company has a market capitalization of $304.33 billion, a P/E ratio of 10.33, a PEG ratio of 0.60 and a beta of 1.15. The business has a 50 day moving average price of $155.74 and a 200 day moving average price of $160.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.11.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings data 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. Chevron had a return on equity of 19.73% 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 period last year, the business posted $1.71 EPS. Chevron’s quarterly revenue was up 82.9% on a year-over-year basis. Sell-side analysts expect that Chevron Co. will post 18.37 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were given a $1.42 dividend. The ex-dividend date was Thursday, August 18th. This represents a $5.68 annualized dividend and a dividend yield of 3.67%. Chevron’s dividend payout ratio is currently 37.89%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Truist Financial reduced their price objective on Chevron from $170.00 to $166.00 and set a “hold” rating for the company in a research note on Tuesday, July 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $172.00 price objective on shares of Chevron in a research note on Thursday, August 4th. Bank of America upped their price objective on Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, August 1st. HSBC raised Chevron from a “hold” rating to a “buy” rating and reduced their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 20th. Finally, Barclays upped their price objective on Chevron from $183.00 to $196.00 and gave the company an “overweight” rating in a research note on Tuesday, May 31st. 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 company’s stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $169.20.

Chevron Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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