Chevron Corporation $CVX Shares Bought by Tandem Investment Partners LLC

Tandem Investment Partners LLC raised its stake in Chevron Corporation (NYSE:CVX) by 17.0% in the second quarter, HoldingsChannel.com reports. The fund owned 1,999 shares of the oil and gas company’s stock after purchasing an additional 290 shares during the quarter. Tandem Investment Partners LLC’s holdings in Chevron were worth $286,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Insight Advisors LLC PA lifted its position in Chevron by 5.3% during the first quarter. Insight Advisors LLC PA now owns 1,881 shares of the oil and gas company’s stock worth $315,000 after buying an additional 94 shares during the period. Ehrlich Financial Group purchased a new position in Chevron during the first quarter worth about $211,000. Sovereign Financial Group Inc. lifted its position in Chevron by 7.7% during the first quarter. Sovereign Financial Group Inc. now owns 2,895 shares of the oil and gas company’s stock worth $484,000 after buying an additional 207 shares during the period. Pines Wealth Management LLC lifted its position in Chevron by 3.3% during the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company’s stock worth $1,306,000 after buying an additional 253 shares during the period. Finally, Verum Partners LLC lifted its position in Chevron by 8.2% during the first quarter. Verum Partners LLC now owns 2,945 shares of the oil and gas company’s stock worth $493,000 after buying an additional 222 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of the firm’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 transaction of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The sale 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 firm’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 sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Chevron Price Performance

CVX stock opened at $153.59 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a market cap of $265.40 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84. The stock has a 50-day simple moving average of $156.23 and a 200-day simple moving average of $148.99.

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

Chevron Announces Dividend

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 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is 88.03%.

Analyst Ratings Changes

Several research firms recently weighed in on CVX. Morgan Stanley began coverage on Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price on the stock. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Evercore ISI restated an “outperform” rating and set a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research note on Saturday, September 27th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $178.00 price target on shares of Chevron in a research note on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $165.05.

About Chevron

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.