Chevron Corporation (CVX) Shares Bought by Willingdon Wealth Management
Willingdon Wealth Management increased its stake in Chevron Corporation (NYSE:CVX) by 6.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,211 shares of the oil and gas company’s stock after buying an additional 1,687 shares during the period. Chevron Corporation comprises about 1.2% of Willingdon Wealth Management’s portfolio, making the stock its 23rd largest position. Willingdon Wealth Management’s holdings in Chevron Corporation were worth $3,029,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC acquired a new stake in Chevron Corporation during the fourth quarter valued at approximately $139,000. Americafirst Capital Management LLC acquired a new stake in Chevron Corporation during the first quarter valued at approximately $140,000. Merriman Wealth Management LLC acquired a new stake in Chevron Corporation during the first quarter valued at approximately $224,000. Harwood Advisory Group LLC raised its stake in Chevron Corporation by 22.0% in the first quarter. Harwood Advisory Group LLC now owns 2,137 shares of the oil and gas company’s stock valued at $229,000 after buying an additional 386 shares in the last quarter. Finally, Orgel Wealth Management LLC raised its stake in Chevron Corporation by 0.8% in the first quarter. Orgel Wealth Management LLC now owns 2,346 shares of the oil and gas company’s stock valued at $252,000 after buying an additional 18 shares in the last quarter. Institutional investors and hedge funds own 62.75% of the company’s stock.
Chevron Corporation (NYSE:CVX) traded up 0.74% on Friday, hitting $108.23. 4,384,176 shares of the stock were exchanged. Chevron Corporation has a 52 week low of $97.53 and a 52 week high of $119.00. The company has a market cap of $205.10 billion, a PE ratio of 35.09 and a beta of 1.23. The company’s 50-day moving average is $106.68 and its 200-day moving average is $107.28.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The company had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. Chevron Corporation’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.78) earnings per share. On average, analysts predict that Chevron Corporation will post $3.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.99%. Chevron Corporation’s dividend payout ratio is currently 140.26%.
CVX has been the topic of several recent research reports. TheStreet upgraded shares of Chevron Corporation from a “c” rating to a “b” rating in a research report on Tuesday, May 2nd. Bank of America Corporation reiterated a “buy” rating and issued a $135.00 price objective (down from $145.00) on shares of Chevron Corporation in a research report on Thursday, May 11th. BMO Capital Markets set a $130.00 price objective on shares of Chevron Corporation and gave the stock a “buy” rating in a research report on Thursday, June 22nd. Scotiabank set a $114.00 price objective on shares of Chevron Corporation and gave the stock a “buy” rating in a research report on Monday, May 1st. Finally, HSBC Holdings plc upgraded shares of Chevron Corporation from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $124.00 to $119.00 in a research report on Monday, June 5th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $117.22.
In other news, Director Linnet F. Deily sold 2,312 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total transaction of $248,262.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James William Johnson sold 31,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the transaction, the insider now directly owns 11,000 shares of the company’s stock, valued at $1,217,480. The disclosure for this sale can be found here. Insiders have sold 72,312 shares of company stock valued at $8,008,343 over the last ninety days. 0.38% of the stock is owned by insiders.
Chevron Corporation Company Profile
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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