Hengehold Capital Management LLC Boosts Holdings in Chevron Corporation $CVX

Hengehold Capital Management LLC raised its stake in Chevron Corporation (NYSE:CVX) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,827 shares of the oil and gas company’s stock after purchasing an additional 298 shares during the period. Hengehold Capital Management LLC’s holdings in Chevron were worth $4,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Spartan Planning & Wealth Management purchased a new position in shares of Chevron in the 1st quarter valued at approximately $484,000. Rothschild Investment LLC boosted its stake in shares of Chevron by 0.5% in the first quarter. Rothschild Investment LLC now owns 135,143 shares of the oil and gas company’s stock valued at $22,608,000 after buying an additional 660 shares in the last quarter. St. Louis Financial Planners Asset Management LLC purchased a new stake in shares of Chevron in the first quarter valued at approximately $2,535,000. Burns J W & Co. Inc. NY boosted its stake in shares of Chevron by 3.1% in the first quarter. Burns J W & Co. Inc. NY now owns 79,641 shares of the oil and gas company’s stock valued at $13,323,000 after buying an additional 2,426 shares in the last quarter. Finally, Somerset Trust Co raised its holdings in Chevron by 2.5% during the first quarter. Somerset Trust Co now owns 15,120 shares of the oil and gas company’s stock worth $2,529,000 after purchasing an additional 364 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 0.4%

Shares of CVX opened at $160.13 on Friday. The company has a market capitalization of $276.70 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.01 and a beta of 0.90. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The stock has a 50-day moving average price of $156.04 and a 200 day moving average price of $149.13.

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

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CVX shares. Morgan Stanley started coverage on Chevron in a report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price target for the company. Melius started coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Evercore ISI reissued an “outperform” rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Finally, UBS Group boosted their price target on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $165.05.

Insider Buying and Selling

In other news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company’s stock, 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. 0.21% of the stock is currently owned by insiders.

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.