Cooper Haims Advisors LLC Buys New Stake in Chevron Corporation $CVX

Cooper Haims Advisors LLC purchased a new position in shares of Chevron Corporation (NYSE:CVXFree Report) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 5,745 shares of the oil and gas company’s stock, valued at approximately $952,000. Chevron comprises approximately 0.4% of Cooper Haims Advisors LLC’s investment portfolio, making the stock its 23rd biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron during the first quarter worth about $25,000. Core Wealth Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at about $26,000. Phillip James Consulting Co. purchased a new position in Chevron during the 4th quarter worth approximately $26,000. Basso Capital Management L.P. purchased a new stake in Chevron in the fourth quarter valued at approximately $27,000. Finally, Karpus Management Inc. acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $27,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $216.00 target price on shares of Chevron in a report on Friday, July 10th. Dbs Bank raised shares of Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Piper Sandler began coverage on shares of Chevron in a research note on Thursday, July 23rd. They set an “overweight” rating and a $207.00 target price for the company. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a report on Thursday, July 2nd. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $216.00 price target on shares of Chevron in a research report on Wednesday, May 6th. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $207.48.

Check Out Our Latest Analysis on Chevron

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew Benjamin Walz sold 16,800 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider directly owned 14 shares of the company’s stock, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,152,582 shares of company stock worth $225,853,661. Company insiders own 0.56% of the company’s stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

Chevron Stock Down 1.5%

Shares of Chevron stock opened at $199.98 on Wednesday. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The company has a market cap of $395.12 billion, a P/E ratio of 19.17, a PEG ratio of 0.61 and a beta of 0.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The firm has a fifty day moving average of $185.88 and a two-hundred day moving average of $188.48.

Chevron (NYSE:CVXGet Free Report) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. During the same quarter in the previous year, the firm earned $1.77 earnings per share. The business’s quarterly revenue was up 57.4% compared to the same quarter last year. On average, analysts forecast that Chevron Corporation will post 16.17 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s payout ratio is currently 68.26%.

Chevron Profile

(Free Report)

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

See Also

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVXFree Report).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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