Blue Capital Inc. Acquires New Holdings in Chevron Corporation $CVX

by · The Markets Daily

Blue Capital Inc. purchased a new stake in Chevron Corporation (NYSE:CVX – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,641 shares of the oil and gas company’s stock, valued at approximately $665,000.

Several other large investors have also made changes to their positions in CVX. Elequin Capital LP acquired a new position in shares of Chevron in the first quarter valued at $31,000. Quaker Wealth Management LLC lifted its holdings in Chevron by 197.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its stake in shares of Chevron by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 118 shares during the last quarter. IMG Wealth Management Inc. boosted its stake in Chevron by 52.3% in the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares in the last quarter. Finally, GFG Capital LLC acquired a new position in Chevron during the 2nd quarter worth about $42,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 275,000 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. The trade was a 19.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.21% of the stock is owned by company insiders.

Chevron Stock Down 0.5%

CVX opened at $149.95 on Friday. The stock has a market cap of $301.93 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 8.95 and a beta of 0.68. The stock’s fifty day simple moving average is $152.74 and its 200 day simple moving average is $151.98. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX – Get Free Report) last announced its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. Chevron’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.48 EPS. As a group, research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

Analyst Ratings Changes

Several research analysts have issued reports on CVX shares. UBS Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, December 1st. Bank of America decreased their price objective on shares of Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a report on Thursday. Scotiabank increased their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Raymond James Financial reissued an “outperform” rating and set a $160.00 price objective (down previously from $170.00) on shares of Chevron in a research report on Friday, October 17th. Finally, Piper Sandler decreased their price objective on Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $166.00.

View Our Latest Analysis on Chevron

Chevron Company Profile

(Free Report)

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.

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