First Fiduciary Investment Counsel Inc. Acquires 250 Shares of Chevron Corporation $CVX

First Fiduciary Investment Counsel Inc. boosted its holdings in shares of Chevron Corporation (NYSE:CVX) by 15.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,898 shares of the oil and gas company’s stock after acquiring an additional 250 shares during the quarter. First Fiduciary Investment Counsel Inc.’s holdings in Chevron were worth $272,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd grew its holdings in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP acquired a new position in Chevron during the first quarter valued at approximately $31,000. Cloud Capital Management LLC acquired a new position in Chevron during the first quarter valued at approximately $39,000. Investment Management Corp VA ADV grew its holdings in Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares during the last quarter. Finally, GFG Capital LLC acquired a new position in Chevron during the second quarter valued at approximately $42,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 1.7%

Shares of CVX stock opened at $149.11 on Friday. The stock has a market cap of $257.66 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The stock has a fifty day moving average price of $156.10 and a 200 day moving average price of $148.67. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period last year, the business earned $2.55 earnings per share. Analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.6%. Chevron’s dividend payout ratio is 88.03%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Bank of America raised their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Barclays lowered their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Melius Research began coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Finally, Evercore ISI restated an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and an average price target of $165.40.

Insider Activity

In other news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% 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.