Chevron Co. (NYSE:CVX) Shares Purchased 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 purchased a new stake in Chevron during the 4th quarter valued at approximately $36,000. 69.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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, Director Wanda M. Austin sold 11,432 shares of the business’s stock in a transaction dated 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 directly owns 3,560 shares of the company’s stock, valued at approximately $574,762. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,732 shares of company stock worth $23,024,499. 0.32% of the stock is owned by corporate insiders.

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 Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have commented on the company. 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. Morgan Stanley upped their price objective on Chevron from $187.00 to $193.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 6th. 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. Cowen upped their price objective on Chevron from $119.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, August 15th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $202.00 price objective on shares of Chevron in a research note on Thursday, August 11th. 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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