Lynx Investment Advisory Increases Stake in Chevron Corporation $CVX

Lynx Investment Advisory lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,437 shares of the oil and gas company’s stock after buying an additional 179 shares during the quarter. Lynx Investment Advisory’s holdings in Chevron were worth $922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. CCG Wealth Management LLC lifted its stake in shares of Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after buying an additional 145 shares in the last quarter. Ignite Planners LLC raised its holdings in shares of Chevron by 14.1% during the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock valued at $2,060,000 after purchasing an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. increased its holdings in Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after buying an additional 495 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Chevron by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock valued at $24,075,000 after buying an additional 675 shares during the last quarter. Finally, Capital Advisors Inc. OK increased its holdings in Chevron by 0.3% during the first quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock valued at $95,231,000 after buying an additional 1,755 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of a number of analyst reports. TD Cowen increased their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Piper Sandler upped their target price on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Bank of America raised their target price on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Finally, Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $165.05.

Chevron Stock Performance

Shares of NYSE CVX opened at $154.64 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a 50 day simple moving average of $156.31 and a two-hundred day simple moving average of $149.17. The stock has a market cap of $267.21 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 1.97 and a beta of 0.84.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the previous year, the business posted $2.55 EPS. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. As a group, analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

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

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Chevron 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.