Atalanta Sosnoff Capital LLC Increases Holdings in Chevron Corporation $CVX

by · The Cerbat Gem

Atalanta Sosnoff Capital LLC raised its stake in shares of Chevron Corporation (NYSE:CVX – Free Report) by 20.0% in the first quarter, Holdings Channel reports. The institutional investor owned 1,800 shares of the oil and gas company’s stock after buying an additional 300 shares during the quarter. Atalanta Sosnoff Capital LLC’s holdings in Chevron were worth $301,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Sage Capital Advisors llc raised its stake in Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock valued at $7,097,000 after buying an additional 919 shares during the last quarter. CCG Wealth Management LLC raised its stake in shares of Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after purchasing an additional 145 shares during the last quarter. Ignite Planners LLC raised its stake in shares of Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after purchasing an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. raised its stake in shares of Chevron by 9.1% in the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after purchasing an additional 495 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock worth $24,075,000 after purchasing an additional 675 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.8%

Chevron stock opened at $161.82 on Wednesday. The stock has a market cap of $279.62 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 2.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. 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 of $152.93 and a 200 day moving average of $148.86.

Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter in the prior year, the business earned $2.55 earnings per share. Chevron’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron’s payout ratio is currently 88.03%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVX. Piper Sandler boosted their price target on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. TD Cowen boosted their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Barclays restated an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Mizuho decreased their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Finally, Evercore ISI restated an “outperform” rating and issued a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $163.95.

Read Our Latest Stock Analysis on Chevron

About Chevron

(Free Report)

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.

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