Chevron Corporation $CVX Stake Boosted by LMG Wealth Partners LLC

LMG Wealth Partners LLC grew its position in Chevron Corporation (NYSE:CVX) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,514 shares of the oil and gas company’s stock after purchasing an additional 1,935 shares during the quarter. Chevron comprises approximately 2.1% of LMG Wealth Partners LLC’s investment portfolio, making the stock its 10th biggest holding. LMG Wealth Partners LLC’s holdings in Chevron were worth $10,383,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Greenfield Savings Bank grew its holdings in shares of Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after buying an additional 68 shares during the last quarter. Atwater Malick LLC grew its holdings in shares of Chevron by 2.4% during the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after buying an additional 68 shares during the last quarter. Hubbell Strickland Wealth Management LLC grew its holdings in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock valued at $1,443,000 after buying an additional 68 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Chevron by 10.3% during the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 70 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of Chevron by 4.1% during the second quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company’s stock valued at $260,000 after buying an additional 71 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CVX shares. TD Cowen boosted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Morgan Stanley started coverage on shares of Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective on the stock. Melius Research started coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Mizuho decreased their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Finally, Evercore ISI restated an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $165.25.

Chevron Trading Up 0.9%

Shares of Chevron stock opened at $153.12 on Monday. The firm has a 50-day simple moving average of $156.03 and a two-hundred day simple moving average of $147.96. The company has a market cap of $264.58 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week 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.

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

Chevron Dividend Announcement

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

Insider Activity

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

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.