DeDora Capital Inc. Boosts Stock Position in Chevron Corporation $CVX

DeDora Capital Inc. grew its holdings in Chevron Corporation (NYSE:CVX) by 7.2% in the second quarter, Holdings Channel reports. The institutional investor owned 16,658 shares of the oil and gas company’s stock after acquiring an additional 1,126 shares during the quarter. DeDora Capital Inc.’s holdings in Chevron were worth $2,385,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CVX. GAMMA Investing LLC boosted its stake in shares of Chevron by 27.3% in the first quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock worth $5,408,000 after acquiring an additional 6,928 shares during the last quarter. Segment Wealth Management LLC boosted its stake in shares of Chevron by 2.2% in the first quarter. Segment Wealth Management LLC now owns 29,245 shares of the oil and gas company’s stock worth $4,892,000 after acquiring an additional 634 shares during the last quarter. Advisor Resource Council acquired a new stake in shares of Chevron in the first quarter worth approximately $2,844,000. Congress Park Capital LLC boosted its stake in shares of Chevron by 15.3% in the first quarter. Congress Park Capital LLC now owns 3,626 shares of the oil and gas company’s stock worth $607,000 after acquiring an additional 481 shares during the last quarter. Finally, Davies Financial Advisors Inc. acquired a new stake in shares of Chevron in the first quarter worth approximately $296,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated 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 transaction, 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 disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $153.12 on Friday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The business’s fifty day simple moving average is $156.03 and its 200-day simple moving average is $148.02. The firm has a market cap of $264.58 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 2.01 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last announced its quarterly 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. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the company posted $2.55 EPS. The company’s quarterly revenue was down 12.4% on a year-over-year basis. Equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is 88.03%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CVX shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Mizuho lowered their price objective on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. UBS Group boosted their price objective on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Evercore ISI reissued an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Finally, Melius started coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective on the stock. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $165.25.

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.