Van Hulzen Asset Management LLC Acquires New Shares in Chevron Corporation $CVX

Van Hulzen Asset Management LLC purchased a new position in shares of Chevron Corporation (NYSE:CVXFree Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 25,033 shares of the oil and gas company’s stock, valued at approximately $4,149,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Capital Inc. bought a new position in Chevron in the second quarter worth $786,000. OneAscent Wealth Management LLC acquired a new position in Chevron in the second quarter valued at about $973,000. Global Retirement Partners LLC acquired a new stake in shares of Chevron during the second quarter worth approximately $14,276,000. Indivisible Partners bought a new position in shares of Chevron in the fourth quarter valued at approximately $1,923,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Chevron by 6.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock worth $258,853,000 after acquiring an additional 79,439 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Chevron stock opened at $203.03 on Tuesday. The company has a market cap of $401.14 billion, a PE ratio of 19.47, a PEG ratio of 0.61 and a beta of 0.49. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71. The company’s 50-day moving average is $185.48 and its two-hundred day moving average is $188.35.

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

Chevron Dividend Announcement

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 paid a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.5%. Chevron’s dividend payout ratio (DPR) is presently 68.26%.

Insider Buying and Selling at Chevron

In other news, insider Andrew Benjamin Walz sold 16,800 shares of the stock in a transaction 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 owned 14 shares of the company’s stock, valued at $2,814.84. This represents a 99.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 317,100 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,152,582 shares of company stock worth $225,853,661 over the last quarter. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Mizuho set a $224.00 price target on Chevron in a research report on Monday, August 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research report on Friday, July 10th. The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Morgan Stanley increased their target price on Chevron from $210.00 to $218.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Finally, Piper Sandler began coverage on Chevron in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 target price for the company. Twenty equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

Get Our Latest Analysis on Chevron

Key Headlines Impacting Chevron

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Chevron Company 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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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