Texas Yale Capital Corp. Buys 3,566 Shares of Chevron Corporation $CVX

Texas Yale Capital Corp. increased its position in shares of Chevron Corporation (NYSE:CVX) by 9.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 42,444 shares of the oil and gas company’s stock after buying an additional 3,566 shares during the quarter. Texas Yale Capital Corp.’s holdings in Chevron were worth $6,078,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ignite Planners LLC increased its stake in shares of Chevron by 14.1% during the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after purchasing an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. grew its holdings in Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after purchasing an additional 495 shares during the period. GW&K Investment Management LLC increased its position in Chevron by 33.8% in the first quarter. GW&K Investment Management LLC now owns 1,260 shares of the oil and gas company’s stock worth $211,000 after buying an additional 318 shares during the last quarter. Mutual Advisors LLC increased its position in Chevron by 7.3% in the second quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock worth $13,743,000 after buying an additional 6,058 shares during the last quarter. Finally, Costello Asset Management INC raised its stake in Chevron by 26.9% in the 2nd quarter. Costello Asset Management INC now owns 16,694 shares of the oil and gas company’s stock valued at $2,390,000 after acquiring an additional 3,541 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVX. Wells Fargo & Company began coverage on shares of Chevron in a report on Friday, October 17th. They set an “overweight” rating and a $190.00 target price on the stock. Piper Sandler upped their target price on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Melius Research started coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Finally, Morgan Stanley upped their target price on Chevron from $174.00 to $177.00 and gave the stock an “overweight” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $165.40.

Chevron Stock Performance

NYSE:CVX opened at $152.98 on Friday. 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 Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a market cap of $264.34 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. The firm’s fifty day simple moving average is $155.66 and its 200 day simple moving average is $149.48.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $49.73 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter in the prior year, the company earned $2.48 earnings per share. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is 96.20%.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were 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 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction 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 sale, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% 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.