Yousif Capital Management LLC Raises Stock Holdings in Chevron Corporation $CVX

Yousif Capital Management LLC boosted its holdings in shares of Chevron Corporation (NYSE:CVX) by 6.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 301,445 shares of the oil and gas company’s stock after purchasing an additional 18,154 shares during the quarter. Chevron makes up approximately 0.5% of Yousif Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Yousif Capital Management LLC’s holdings in Chevron were worth $46,811,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CVX. PKS Advisory Services LLC increased its stake in shares of Chevron by 3.5% in the first quarter. PKS Advisory Services LLC now owns 2,334 shares of the oil and gas company’s stock worth $389,000 after buying an additional 78 shares during the last quarter. FORA Capital LLC grew its holdings in Chevron by 169.4% during the 1st quarter. FORA Capital LLC now owns 87,617 shares of the oil and gas company’s stock worth $14,657,000 after acquiring an additional 55,099 shares in the last quarter. Ceredex Value Advisors LLC increased its position in shares of Chevron by 4.9% in the 1st quarter. Ceredex Value Advisors LLC now owns 349,252 shares of the oil and gas company’s stock worth $58,426,000 after purchasing an additional 16,397 shares during the last quarter. Epoch Investment Partners Inc. raised its stake in shares of Chevron by 3.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 497,651 shares of the oil and gas company’s stock valued at $83,252,000 after purchasing an additional 18,369 shares in the last quarter. Finally, Samalin Investment Counsel LLC raised its stake in shares of Chevron by 26.4% in the 1st quarter. Samalin Investment Counsel LLC now owns 6,077 shares of the oil and gas company’s stock valued at $1,017,000 after purchasing an additional 1,270 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 0.4%

Shares of NYSE CVX opened at $150.47 on Wednesday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a market cap of $302.97 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 8.90 and a beta of 0.68. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The stock’s 50 day simple moving average is $152.23 and its 200 day simple moving average is $152.73.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.48 earnings per share. Equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s payout ratio is 96.20%.

Insider Activity

In other news, Director John B. Hess sold 275,000 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the transaction, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. The trade was a 19.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Barclays decreased their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Piper Sandler dropped their price target on Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research report on Monday, November 10th. Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Finally, Morgan Stanley boosted their target price on shares of Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $166.00.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.