Elevated Capital Advisors LLC Acquires Shares of 10,615 Chevron Co. (NYSE:CVX)

Elevated Capital Advisors LLC acquired a new stake in Chevron Co. (NYSE:CVX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,615 shares of the oil and gas company’s stock, valued at approximately $883,000.

A number of other large investors have also recently bought and sold shares of CVX. Franklin Resources Inc. boosted its position in Chevron by 57.5% in the 1st quarter. Franklin Resources Inc. now owns 13,548,338 shares of the oil and gas company’s stock valued at $981,712,000 after buying an additional 4,944,811 shares during the last quarter. Capital International Investors boosted its position in Chevron by 12.9% in the 1st quarter. Capital International Investors now owns 36,799,529 shares of the oil and gas company’s stock valued at $2,666,493,000 after buying an additional 4,218,942 shares during the last quarter. State Street Corp boosted its position in Chevron by 2.6% in the 1st quarter. State Street Corp now owns 117,055,351 shares of the oil and gas company’s stock valued at $8,481,831,000 after buying an additional 2,914,316 shares during the last quarter. Eaton Vance Management boosted its position in Chevron by 114.2% in the 1st quarter. Eaton Vance Management now owns 3,558,007 shares of the oil and gas company’s stock valued at $259,115,000 after buying an additional 1,896,930 shares during the last quarter. Finally, ACR Alpine Capital Research LLC purchased a new position in Chevron in the 1st quarter valued at about $105,415,000. 64.01% of the stock is owned by institutional investors.

Shares of NYSE:CVX traded up $2.21 during trading hours on Wednesday, hitting $78.56. The stock had a trading volume of 13,018,994 shares, compared to its average volume of 11,112,631. The stock’s fifty day simple moving average is $85.18 and its 200 day simple moving average is $86.44. The firm has a market capitalization of $146.69 billion, a price-to-earnings ratio of -16.89, a PEG ratio of 157.73 and a beta of 1.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.14. Chevron Co. has a 1-year low of $51.60 and a 1-year high of $125.00.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($1.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.66). Chevron had a positive return on equity of 3.61% and a negative net margin of 7.41%. The business had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $21.71 billion. During the same period last year, the company earned $1.77 earnings per share. The business’s quarterly revenue was down 64.1% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Co. will post 0.1 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were issued a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date was Tuesday, August 18th. Chevron’s dividend payout ratio (DPR) is 82.30%.

A number of equities analysts have weighed in on CVX shares. SunTrust Banks began coverage on shares of Chevron in a research report on Thursday, July 23rd. They issued a “buy” rating and a $120.00 price objective for the company. Bank of America cut Chevron from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 9th. Royal Bank of Canada lowered Chevron from a “sector perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a research report on Wednesday, June 10th. Zacks Investment Research raised Chevron from a “hold” rating to a “strong-buy” rating and set a $105.00 price target on the stock in a research report on Wednesday, July 22nd. Finally, Raymond James raised their price objective on Chevron from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, July 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $107.14.

In related news, insider David A. Inchausti sold 5,750 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $92.00, for a total value of $529,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.28% 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.

Read More: Price to Earnings Ratio (PE) Basics

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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