Armstrong Henry H Associates Inc. Has $262,000 Stock Position in Chevron Co. (NYSE:CVX)

Armstrong Henry H Associates Inc. lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 8.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,678 shares of the oil and gas company’s stock after purchasing an additional 128 shares during the quarter. Armstrong Henry H Associates Inc.’s holdings in Chevron were worth $262,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CVX. Requisite Capital Management LLC boosted its holdings in shares of Chevron by 117.1% during the 4th quarter. Requisite Capital Management LLC now owns 6,025 shares of the oil and gas company’s stock worth $899,000 after buying an additional 3,250 shares during the period. Founders Capital Management LLC boosted its holdings in shares of Chevron by 11.6% during the 4th quarter. Founders Capital Management LLC now owns 1,680 shares of the oil and gas company’s stock worth $251,000 after buying an additional 175 shares during the period. TTP Investments Inc. boosted its holdings in shares of Chevron by 2.7% during the 4th quarter. TTP Investments Inc. now owns 20,750 shares of the oil and gas company’s stock worth $3,095,000 after buying an additional 538 shares during the period. Iowa State Bank boosted its holdings in shares of Chevron by 0.8% during the 4th quarter. Iowa State Bank now owns 49,248 shares of the oil and gas company’s stock worth $7,346,000 after buying an additional 409 shares during the period. Finally, Independence Bank of Kentucky boosted its holdings in shares of Chevron by 16.7% during the 4th quarter. Independence Bank of Kentucky now owns 23,137 shares of the oil and gas company’s stock worth $3,451,000 after buying an additional 3,310 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock traded down $4.07 during mid-day trading on Friday, reaching $148.55. 13,278,618 shares of the stock were exchanged, compared to its average volume of 6,585,736. The company has a market cap of $273.77 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 2.45 and a beta of 1.10. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The firm has a 50-day simple moving average of $156.37 and a 200 day simple moving average of $156.09. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.33). The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $3.08 EPS. On average, sell-side analysts predict that Chevron Co. will post 12.45 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research reports. HSBC increased their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Piper Sandler increased their price target on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Scotiabank reduced their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Finally, UBS Group increased their price target on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $185.59.

Insider Buying and Selling

In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The disclosure for this sale can be found here. Insiders sold 11,397 shares of company stock worth $1,855,582 in the last quarter. 0.20% of the stock is owned by corporate insiders.

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.