Tevis Investment Management Has $1.88 Million Stock Position in Chevron Corporation $CVX

Tevis Investment Management raised its stake in shares of Chevron Corporation (NYSE:CVX) by 11.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,139 shares of the oil and gas company’s stock after purchasing an additional 1,364 shares during the quarter. Chevron accounts for 1.2% of Tevis Investment Management’s portfolio, making the stock its 26th largest holding. Tevis Investment Management’s holdings in Chevron were worth $1,881,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. ACR Alpine Capital Research LLC boosted its holdings in Chevron by 10.3% during the second quarter. ACR Alpine Capital Research LLC now owns 2,419,150 shares of the oil and gas company’s stock valued at $346,398,000 after purchasing an additional 225,583 shares in the last quarter. Advisory Alpha LLC boosted its holdings in shares of Chevron by 1.5% in the 2nd quarter. Advisory Alpha LLC now owns 9,443 shares of the oil and gas company’s stock worth $1,352,000 after acquiring an additional 136 shares in the last quarter. Rossby Financial LCC raised its position in Chevron by 3.3% in the 2nd quarter. Rossby Financial LCC now owns 5,159 shares of the oil and gas company’s stock worth $739,000 after purchasing an additional 165 shares during the last quarter. SYM FINANCIAL Corp raised its position in Chevron by 26.3% in the 2nd quarter. SYM FINANCIAL Corp now owns 4,091 shares of the oil and gas company’s stock worth $586,000 after purchasing an additional 851 shares during the last quarter. Finally, Facet Wealth Inc. bought a new position in Chevron in the 2nd quarter worth approximately $260,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Melius assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Barclays dropped their price objective on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. TD Cowen upped their target price 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. Bank of America upped their target price on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $165.25.

Chevron Trading Down 0.1%

Shares of NYSE:CVX opened at $155.38 on Tuesday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a market capitalization of $268.49 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 4.42 and a beta of 0.84. The company has a 50-day simple moving average of $156.03 and a 200 day simple moving average of $148.55. 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 (NYSE:CVX) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (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 the consensus estimate of $44.59 billion. During the same period last year, the business posted $2.55 EPS. Chevron’s revenue was down 12.4% on a year-over-year basis. Sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

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

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of the stock in a transaction dated 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 directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate 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.