Greylin Investment Mangement Inc. Has $5.42 Million Stake in Chevron Co. (NYSE:CVX)

Greylin Investment Mangement Inc. raised its stake in Chevron Co. (NYSE:CVXGet Rating) by 0.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 37,412 shares of the oil and gas company’s stock after buying an additional 100 shares during the period. Chevron comprises 1.0% of Greylin Investment Mangement Inc.’s holdings, making the stock its 21st largest position. Greylin Investment Mangement Inc.’s holdings in Chevron were worth $5,417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue lifted its stake in Chevron by 11.8% in the second quarter. State of Alaska Department of Revenue now owns 362,241 shares of the oil and gas company’s stock valued at $52,443,000 after buying an additional 38,334 shares during the period. Kohmann Bosshard Financial Services LLC raised its position in shares of Chevron by 25.1% during the second quarter. Kohmann Bosshard Financial Services LLC now owns 1,789 shares of the oil and gas company’s stock worth $259,000 after purchasing an additional 359 shares during the period. Cullinan Associates Inc. raised its position in shares of Chevron by 38.3% during the second quarter. Cullinan Associates Inc. now owns 198,265 shares of the oil and gas company’s stock worth $28,705,000 after purchasing an additional 54,937 shares during the period. Old Port Advisors raised its position in shares of Chevron by 16.9% during the second quarter. Old Port Advisors now owns 17,963 shares of the oil and gas company’s stock worth $2,563,000 after purchasing an additional 2,593 shares during the period. Finally, Pure Financial Advisors LLC raised its position in shares of Chevron by 19.1% during the second quarter. Pure Financial Advisors LLC now owns 5,703 shares of the oil and gas company’s stock worth $826,000 after purchasing an additional 915 shares during the period. Institutional investors and hedge funds own 69.30% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research analyst reports. Societe Generale raised Chevron from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Piper Sandler raised their price target on Chevron from $189.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, September 12th. Citigroup dropped their price target on Chevron from $170.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 13th. Truist Financial dropped their price target on Chevron from $170.00 to $166.00 and set a “hold” rating on the stock in a research report on Tuesday, July 19th. Finally, Bank of America lifted their target price on Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, August 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $169.20.

Chevron Stock Performance

CVX opened at $156.45 on Monday. The business has a fifty day simple moving average of $154.36 and a 200 day simple moving average of $160.41. The company has a market capitalization of $307.39 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 0.60 and a beta of 1.15. Chevron Co. has a 1 year low of $93.31 and a 1 year high of $182.40. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.11.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $1.16. The business had revenue of $68.76 billion during the quarter, compared to the consensus estimate of $57.69 billion. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The firm’s quarterly revenue was up 82.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.71 EPS. Research analysts expect that Chevron Co. will post 18.4 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were issued a $1.42 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $5.68 annualized dividend and a yield of 3.63%. Chevron’s dividend payout ratio is presently 37.89%.

Insider Buying and Selling at Chevron

In other Chevron news, CFO Pierre R. Breber sold 22,500 shares of Chevron stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $158.11, for a total value of $3,557,475.00. Following the completion of the transaction, the chief financial officer now directly owns 7 shares of the company’s stock, valued at approximately $1,106.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Chevron news, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction on Monday, August 1st. The stock was sold at an average price of $161.45, for a total value of $1,845,696.40. Following the completion of the transaction, the director now directly owns 3,560 shares of the company’s stock, valued at approximately $574,762. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Pierre R. Breber sold 22,500 shares of Chevron stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $158.11, for a total value of $3,557,475.00. Following the completion of the transaction, the chief financial officer now directly owns 7 shares of the company’s stock, valued at $1,106.77. The disclosure for this sale can be found here. Insiders sold 141,732 shares of company stock valued at $23,024,499 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Chevron Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 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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