Wealthfront Advisers LLC Has $22.38 Million Stock Position in Chevron Corporation $CVX

Wealthfront Advisers LLC lessened its holdings in Chevron Corporation (NYSE:CVX) by 11.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 156,316 shares of the oil and gas company’s stock after selling 19,589 shares during the quarter. Wealthfront Advisers LLC’s holdings in Chevron were worth $22,383,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Ignite Planners LLC grew its position in Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock valued at $2,060,000 after acquiring an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. boosted its stake in shares of Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after purchasing an additional 495 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Chevron by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock valued at $24,075,000 after purchasing an additional 675 shares during the last quarter. Capital Advisors Inc. OK increased its position in Chevron by 0.3% during the 1st quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock worth $95,231,000 after purchasing an additional 1,755 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its stake in Chevron by 33.8% in the 1st quarter. GW&K Investment Management LLC now owns 1,260 shares of the oil and gas company’s stock valued at $211,000 after purchasing an additional 318 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Morgan Stanley assumed coverage on shares of Chevron in a research note on Monday, August 4th. They set an “overweight” rating and a $174.00 target price on the stock. Bank of America boosted their price objective on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Melius Research began coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research note on Friday. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $165.25.

Chevron Trading Down 0.6%

NYSE CVX opened at $155.63 on Friday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $268.92 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 4.42 and a beta of 0.84. The business’s 50-day moving average price is $156.04 and its two-hundred day moving average price is $148.46.

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

Chevron Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio is 88.03%.

Insiders Place Their Bets

In related news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on 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 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 sale was disclosed in a filing 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 on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

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.