Bridgewater Advisors Inc. Buys 926 Shares of Chevron Corporation $CVX

Bridgewater Advisors Inc. increased its stake in shares of Chevron Corporation (NYSE:CVX) by 13.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,011 shares of the oil and gas company’s stock after acquiring an additional 926 shares during the quarter. Bridgewater Advisors Inc.’s holdings in Chevron were worth $1,241,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Kingstone Capital Partners Texas LLC raised its position in 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 purchasing an additional 83,702,101 shares during the period. GQG Partners LLC bought a new stake in shares of Chevron in the 1st quarter valued at about $1,466,751,000. Nuveen LLC acquired a new stake in shares of Chevron in the 1st quarter worth $1,362,232,000. Charles Schwab Investment Management Inc. grew its position in Chevron by 4.9% during the 1st 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 during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Chevron by 141.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after purchasing an additional 1,107,628 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In related 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 value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on 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 owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by company insiders.

Chevron Stock Performance

NYSE:CVX opened at $157.58 on Monday. The company’s 50-day moving average price is $156.07 and its 200-day moving average price is $149.20. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The company has a market cap of $272.30 billion, a P/E ratio of 20.28, a P/E/G ratio of 4.40 and a beta of 0.84. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $49.73 billion for the quarter, compared to the consensus estimate of $46.99 billion. During the same period last year, the firm posted $2.48 earnings per share. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CVX shares. Wells Fargo & Company started coverage on shares of Chevron in a report on Friday, October 17th. They issued an “overweight” rating and a $190.00 price objective on the stock. Melius initiated coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. TD Cowen boosted their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Melius Research initiated coverage on shares of Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 price objective (down from $170.00) on shares of Chevron in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.