Hubbell Strickland Wealth Management LLC Acquires 68 Shares of Chevron Corporation $CVX

Hubbell Strickland Wealth Management LLC increased its holdings in Chevron Corporation (NYSE:CVX) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,081 shares of the oil and gas company’s stock after purchasing an additional 68 shares during the period. Chevron makes up about 0.6% of Hubbell Strickland Wealth Management LLC’s investment portfolio, making the stock its 23rd largest position. Hubbell Strickland Wealth Management LLC’s holdings in Chevron were worth $1,443,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CVX. Harvest Fund Management Co. Ltd increased its position in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP bought a new stake in Chevron in the first quarter worth $31,000. Cloud Capital Management LLC bought a new stake in Chevron in the first quarter worth $39,000. Investment Management Corp VA ADV increased its position in Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 149 shares during the last quarter. Finally, Cooksen Wealth LLC bought a new stake in Chevron in the first quarter worth $43,000. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Mizuho dropped their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Scotiabank reaffirmed a “sector perform” rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Finally, Bank of America lifted their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $165.05.

Chevron Stock Performance

Shares of Chevron stock opened at $153.59 on Monday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market capitalization of $265.40 billion, a PE ratio of 19.77, a P/E/G ratio of 1.99 and a beta of 0.84. The company has a 50-day simple moving average of $156.23 and a two-hundred day simple moving average of $148.87.

Chevron (NYSE:CVX) last issued its earnings results 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 firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the firm earned $2.55 earnings per share. Chevron’s revenue for the quarter was down 12.4% on a year-over-year basis. Research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron’s dividend payout ratio (DPR) is 88.03%.

Chevron Company Profile

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.