Wise Wealth Partners Purchases New Shares in Chevron Corporation $CVX

Wise Wealth Partners acquired a new position in Chevron Corporation (NYSE:CVX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,022 shares of the oil and gas company’s stock, valued at approximately $433,000.

Other large investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC grew its position in Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after acquiring an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after purchasing an additional 1,574,464 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Chevron by 5.5% in the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock worth $2,652,437,000 after purchasing an additional 827,851 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Chevron by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock valued at $2,054,513,000 after purchasing an additional 40,758 shares during the last quarter. Finally, GQG Partners LLC purchased a new stake in Chevron during the 1st quarter valued at $1,466,751,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of CVX stock opened at $153.99 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The company has a market capitalization of $266.09 billion, a P/E ratio of 19.82, a P/E/G ratio of 1.99 and a beta of 0.84. The company’s 50-day simple moving average is $156.19 and its two-hundred day simple moving average is $148.80. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the previous year, the firm posted $2.55 earnings per share. The company’s revenue was down 12.4% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio is currently 88.03%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research firms have commented on CVX. UBS Group lifted their price objective on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Morgan Stanley started coverage on shares of Chevron in a report on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price for the company. Barclays reiterated an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Scotiabank reissued a “sector perform” rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, Melius initiated coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $165.05.

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; 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.