Silvercrest Asset Management Group LLC Buys 3,443 Shares of Chevron Co. (NYSE:CVX)

Silvercrest Asset Management Group LLC raised its stake in Chevron Co. (NYSE:CVX) by 0.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 719,938 shares of the oil and gas company’s stock after purchasing an additional 3,443 shares during the quarter. Chevron accounts for 0.8% of Silvercrest Asset Management Group LLC’s portfolio, making the stock its 29th biggest position. Silvercrest Asset Management Group LLC’s holdings in Chevron were worth $89,589,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Murphy Middleton Hinkle & Parker Inc. grew its stake in Chevron by 0.6% in the second quarter. Murphy Middleton Hinkle & Parker Inc. now owns 14,149 shares of the oil and gas company’s stock worth $1,761,000 after purchasing an additional 84 shares during the period. Arlington Financial Advisors LLC grew its stake in Chevron by 0.4% in the second quarter. Arlington Financial Advisors LLC now owns 20,221 shares of the oil and gas company’s stock worth $2,516,000 after purchasing an additional 85 shares during the period. Landsberg Bennett & Dubbaneh LLC grew its stake in Chevron by 1.7% in the second quarter. Landsberg Bennett & Dubbaneh LLC now owns 5,051 shares of the oil and gas company’s stock worth $631,000 after purchasing an additional 86 shares during the period. JNBA Financial Advisors grew its stake in Chevron by 1.6% in the second quarter. JNBA Financial Advisors now owns 5,604 shares of the oil and gas company’s stock worth $697,000 after purchasing an additional 86 shares during the period. Finally, Gilbert & Cook Inc. grew its stake in Chevron by 3.4% in the second quarter. Gilbert & Cook Inc. now owns 2,745 shares of the oil and gas company’s stock worth $342,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 65.61% of the company’s stock.

Several brokerages recently weighed in on CVX. Cowen set a $140.00 price target on Chevron and gave the stock a “buy” rating in a research note on Friday, August 30th. Independent Research set a $127.00 price target on Chevron and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Barclays began coverage on Chevron in a research note on Monday, August 19th. They issued an “overweight” rating and a $145.00 price target on the stock. Morgan Stanley reduced their price target on Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Finally, BMO Capital Markets began coverage on Chevron in a research note on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Chevron currently has an average rating of “Buy” and a consensus price target of $136.22.

Shares of NYSE CVX traded down $0.13 during trading on Tuesday, reaching $123.99. The company had a trading volume of 494,063 shares, compared to its average volume of 5,007,580. Chevron Co. has a 12-month low of $100.22 and a 12-month high of $127.60. The stock has a market cap of $230.66 billion, a PE ratio of 15.03, a P/E/G ratio of 3.05 and a beta of 1.01. The business’s 50-day moving average is $119.23 and its 200 day moving average is $121.33. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.53. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The firm had revenue of $38.85 billion for the quarter, compared to analysts’ expectations of $40.14 billion. During the same period in the prior year, the firm posted $1.78 earnings per share. The company’s quarterly revenue was down 8.0% on a year-over-year basis. On average, analysts anticipate that Chevron Co. will post 6.64 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.19 dividend. The ex-dividend date was Friday, August 16th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.84%. Chevron’s dividend payout ratio is currently 57.70%.

In other news, EVP Joseph C. Geagea sold 5,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $118.10, for a total transaction of $590,500.00. Following the transaction, the executive vice president now directly owns 6,243 shares of the company’s stock, valued at $737,298.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Joseph C. Geagea sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $116.98, for a total value of $1,754,700.00. Following the transaction, the executive vice president now directly owns 6,243 shares in the company, valued at $730,306.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,750 shares of company stock worth $8,793,900. Insiders own 0.31% of the company’s stock.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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