Chevron Co. (NYSE:CVX) Shares Bought by Second Line Capital LLC

Second Line Capital LLC increased its stake in Chevron Co. (NYSE:CVX) by 77.7% during the third quarter, HoldingsChannel.com reports. The fund owned 30,015 shares of the oil and gas company’s stock after buying an additional 13,126 shares during the period. Chevron makes up approximately 1.2% of Second Line Capital LLC’s holdings, making the stock its 17th biggest position. Second Line Capital LLC’s holdings in Chevron were worth $4,420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of CVX. Rational Advisors LLC acquired a new stake in Chevron during the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron in the third quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron during the third quarter valued at approximately $31,000. Finally, Anfield Capital Management LLC increased its stake in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVX. UBS Group lifted their target price on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Royal Bank of Canada upped their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Finally, Scotiabank dropped their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $177.13.

Chevron Price Performance

Shares of Chevron stock opened at $157.07 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $154.97 and a 200-day simple moving average of $152.42. The stock has a market capitalization of $282.27 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 3.47 and a beta of 1.10. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.05 EPS. On average, sell-side analysts expect that Chevron Co. will post 10.54 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

Chevron Company 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.