Plan Group Financial LLC Takes Position in Chevron Corporation $CVX

Plan Group Financial LLC bought a new position in shares of Chevron Corporation (NYSE:CVX) in the second quarter, HoldingsChannel reports. The firm bought 22,457 shares of the oil and gas company’s stock, valued at approximately $3,722,000.

Several other large investors also recently modified their holdings of CVX. Cornerstone Advisory LLC raised its position in Chevron by 0.9% during the 1st quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock valued at $1,164,000 after purchasing an additional 52 shares during the last quarter. Compton Financial Group LLC grew its position in shares of Chevron by 1.9% in the 1st quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock worth $609,000 after buying an additional 56 shares during the last quarter. Quantum Portfolio Management LLC grew its position in shares of Chevron by 2.7% in the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock worth $435,000 after buying an additional 56 shares during the last quarter. Wealthspire Retirement LLC increased its stake in shares of Chevron by 0.9% during the first quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company’s stock valued at $1,351,000 after buying an additional 56 shares during the period. Finally, D.B. Root & Company LLC increased its stake in shares of Chevron by 1.0% during the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after buying an additional 57 shares during the period. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CVX shares. Jefferies Financial Group restated a “buy” rating and set a $216.00 target price on shares of Chevron in a report on Friday, July 10th. UBS Group reiterated a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Bank of America upped their price objective on shares of Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Morgan Stanley dropped their target price on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Finally, Wall Street Zen raised shares of Chevron from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Twenty investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

Chevron Stock Up 1.2%

Shares of NYSE:CVX opened at $199.99 on Friday. The firm has a market capitalization of $395.13 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.60 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 stock has a 50 day moving average price of $183.30 and a 200-day moving average price of $186.88. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71.

Chevron (NYSE:CVX) last released its quarterly 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. The company had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The firm’s revenue was up 57.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.77 earnings per share. As a group, equities research analysts anticipate that Chevron Corporation will post 15.86 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Insiders Place Their Bets

In related news, Director John B. Hess sold 100,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the transaction, the director directly owned 178,045 shares in the company, valued at $34,587,021.70. This trade represents a 35.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 5,547 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $4,919,596. The trade was a 17.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,196,212 shares of company stock worth $231,819,366. Company insiders own 0.56% of the company’s stock.

Chevron Company Profile

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.