Almanack Investment Partners LLC. Buys 1,430 Shares of Chevron Corporation $CVX

Almanack Investment Partners LLC. grew its stake in shares of Chevron Corporation (NYSE:CVX) by 31.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,969 shares of the oil and gas company’s stock after buying an additional 1,430 shares during the period. Almanack Investment Partners LLC.’s holdings in Chevron were worth $855,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC increased its position in shares of Chevron by 652,139.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after buying an additional 83,702,101 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after purchasing an additional 1,574,464 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Chevron by 5.5% during the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock worth $2,652,437,000 after purchasing an additional 827,851 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Chevron by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after purchasing an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC purchased a new position in shares of Chevron during the first quarter worth about $1,466,751,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $149.11 on Monday. The firm has a market cap of $257.66 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week 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 business has a 50 day moving average price of $156.10 and a 200-day moving average price of $148.41.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share 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 analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.55 earnings per share. Equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is 88.03%.

Analysts Set New Price Targets

CVX has been the subject of several recent analyst reports. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a report on Friday, July 18th. Piper Sandler boosted their price objective on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Evercore ISI reissued an “outperform” rating and set a $180.00 price objective on shares of Chevron in a report on Thursday, July 31st. Scotiabank boosted their price objective on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, Bank of America upped their target price on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Hold” and a consensus target price of $165.40.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred 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 owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

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.