City Center Advisors LLC Grows Stock Holdings in Chevron Corporation $CVX

City Center Advisors LLC grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 52.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,108 shares of the oil and gas company’s stock after buying an additional 723 shares during the quarter. City Center Advisors LLC’s holdings in Chevron were worth $302,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. HBW Advisory Services LLC grew its stake in Chevron by 3.4% during the second quarter. HBW Advisory Services LLC now owns 20,413 shares of the oil and gas company’s stock worth $2,923,000 after buying an additional 670 shares during the period. Helen Stephens Group LLC grew its stake in Chevron by 4.1% during the second quarter. Helen Stephens Group LLC now owns 3,649 shares of the oil and gas company’s stock worth $523,000 after buying an additional 145 shares during the period. Central Pacific Bank Trust Division grew its stake in Chevron by 37.5% during the second quarter. Central Pacific Bank Trust Division now owns 19,425 shares of the oil and gas company’s stock worth $2,781,000 after buying an additional 5,301 shares during the period. Confluence Investment Management LLC grew its stake in Chevron by 15.2% during the second quarter. Confluence Investment Management LLC now owns 845,635 shares of the oil and gas company’s stock worth $121,087,000 after buying an additional 111,302 shares during the period. Finally, Harbor Investment Advisory LLC grew its stake in Chevron by 9.9% during the second quarter. Harbor Investment Advisory LLC now owns 19,402 shares of the oil and gas company’s stock worth $2,778,000 after buying an additional 1,753 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CVX shares. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Wells Fargo & Company restated an “overweight” rating and issued a $178.00 price target on shares of Chevron in a report on Friday, August 1st. Morgan Stanley initiated coverage on Chevron in a report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price target for the company. Bank of America upped their price target on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Raymond James Financial restated an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $164.80.

Chevron Stock Performance

Chevron stock opened at $157.23 on Friday. The stock has a market cap of $271.69 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average of $154.67 and a 200-day moving average of $148.89. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.55 EPS. On average, analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio is 88.03%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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 of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.