Total Investment Management Inc. Purchases 225 Shares of Chevron Co. (NYSE:CVX)

Total Investment Management Inc. grew its position in Chevron Co. (NYSE:CVX) by 7.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,288 shares of the oil and gas company’s stock after buying an additional 225 shares during the period. Total Investment Management Inc.’s holdings in Chevron were worth $517,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Morgan Stanley boosted its stake in Chevron by 12.7% in the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after purchasing an additional 3,711,923 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after purchasing an additional 24,467,521 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 76.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 23,667,484 shares of the oil and gas company’s stock worth $3,839,241,000 after purchasing an additional 10,257,980 shares in the last quarter. Norges Bank acquired a new stake in Chevron in the 4th quarter worth approximately $3,058,235,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Chevron by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,844,054 shares of the oil and gas company’s stock worth $2,421,958,000 after purchasing an additional 948,045 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total transaction of $603,300.00. Following the transaction, the vice president now owns 1,718 shares of the company’s stock, valued at approximately $276,391.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Pierre R. Breber sold 25,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the transaction, the chief financial officer now owns 6,021 shares of the company’s stock, valued at approximately $987,444. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total transaction of $603,300.00. Following the completion of the transaction, the vice president now directly owns 1,718 shares in the company, valued at approximately $276,391.84. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Chevron Trading Down 0.4 %

Shares of CVX opened at $166.50 on Friday. Chevron Co. has a 52-week low of $140.46 and a 52-week high of $189.68. The company has a quick ratio of 1.13, a current ratio of 1.43 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average is $160.56 and its two-hundred day moving average is $160.15. The stock has a market cap of $310.90 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 0.89 and a beta of 1.18.

Chevron (NYSE:CVX) last announced its earnings results on Friday, July 28th. The oil and gas company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.13. Chevron had a net margin of 13.54% and a return on equity of 19.48%. The company had revenue of $48.90 billion for the quarter, compared to analysts’ expectations of $48 billion. During the same quarter in the previous year, the company posted $5.82 EPS. The firm’s quarterly revenue was down 28.9% on a year-over-year basis. Research analysts forecast that Chevron Co. will post 13.23 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were paid a dividend of $1.51 per share. The ex-dividend date was Thursday, August 17th. This represents a $6.04 annualized dividend and a yield of 3.63%. Chevron’s dividend payout ratio (DPR) is presently 38.30%.

Wall Street Analyst Weigh In

CVX has been the subject of several research reports. StockNews.com initiated coverage on shares of Chevron in a research note on Thursday, August 17th. They set a “hold” rating for the company. Mizuho upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $205.00 to $209.00 in a research note on Wednesday, August 16th. JPMorgan Chase & Co. upgraded shares of Chevron from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $161.00 to $170.00 in a research note on Wednesday, May 31st. UBS Group lifted their price objective on shares of Chevron from $202.00 to $209.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, Piper Sandler cut their target price on shares of Chevron from $196.00 to $188.00 in a report on Tuesday, June 13th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $190.28.

About Chevron

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.