Ascension Capital Advisors Inc. Takes $841,000 Position in Chevron Corporation $CVX

Ascension Capital Advisors Inc. purchased a new stake in Chevron Corporation (NYSE:CVX) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 4,066 shares of the oil and gas company’s stock, valued at approximately $841,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Midwest Capital Advisors LLC purchased a new stake in Chevron during the first quarter valued at about $25,000. Main Street Group LTD purchased a new position in shares of Chevron in the first quarter worth approximately $28,000. Phillip James Consulting Co. purchased a new position in shares of Chevron in the fourth quarter worth approximately $26,000. Core Wealth Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter valued at approximately $26,000. Finally, Karpus Management Inc. acquired a new stake in shares of Chevron during the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.0%

Shares of NYSE:CVX opened at $193.04 on Thursday. The firm has a fifty day moving average of $181.88 and a two-hundred day moving average of $183.48. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The firm has a market capitalization of $384.45 billion, a P/E ratio of 33.46, a price-to-earnings-growth ratio of 0.67 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the prior year, the business posted $2.18 earnings per share. Chevron’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts expect that Chevron Corporation will post 14.78 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. Chevron’s dividend payout ratio (DPR) is 123.40%.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent analyst reports. Mizuho raised their price objective on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Weiss Ratings downgraded shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price for the company in a report on Friday, April 17th. Morgan Stanley decreased their target price on Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Finally, Citigroup lifted their price target on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.62.

Insider Activity at Chevron

In related news, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.56% of the company’s stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: TD Cowen lifted its price target on Chevron to $200 from $197, signaling continued analyst confidence despite keeping a hold rating. TD Cowen price target update
• Positive Sentiment: Chevron is being highlighted in dividend-focused articles as a steady income name, which may support demand from long-term investors. Dividend Aristocrats article
• Positive Sentiment: Rising oil prices amid geopolitical uncertainty are favorable for Chevron’s upstream business and could improve near-term earnings. Oil prices jump article
• Neutral Sentiment: Chevron shut production at a U.S. Gulf platform ahead of a tropical storm, a precautionary move that could limit output temporarily but is not necessarily a lasting operational issue. Production shutdown article
• Neutral Sentiment: Investors are awaiting Chevron’s second-quarter earnings, with expectations for a strong profit rebound; the report could become a major stock catalyst. Earnings preview article

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.