New World Advisors LLC Takes Position in Chevron Corporation $CVX

New World Advisors LLC bought a new position in shares of Chevron Corporation (NYSE:CVX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,896 shares of the oil and gas company’s stock, valued at approximately $271,000.

Other hedge funds have also bought and sold shares of the company. Advisor OS LLC increased its holdings in Chevron by 22.5% during the 1st quarter. Advisor OS LLC now owns 6,082 shares of the oil and gas company’s stock worth $1,017,000 after purchasing an additional 1,116 shares in the last quarter. Lifeworks Advisors LLC lifted its holdings in shares of Chevron by 12.2% in the first quarter. Lifeworks Advisors LLC now owns 2,805 shares of the oil and gas company’s stock valued at $469,000 after purchasing an additional 305 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Chevron by 16.5% during the first quarter. Avantax Advisory Services Inc. now owns 259,353 shares of the oil and gas company’s stock valued at $43,387,000 after buying an additional 36,767 shares during the last quarter. Cetera Investment Advisers grew its holdings in Chevron by 4.7% during the first quarter. Cetera Investment Advisers now owns 744,628 shares of the oil and gas company’s stock worth $124,569,000 after buying an additional 33,709 shares in the last quarter. Finally, Elefante Mark B grew its holdings in Chevron by 23.1% during the first quarter. Elefante Mark B now owns 19,383 shares of the oil and gas company’s stock worth $3,243,000 after buying an additional 3,635 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CVX has been the topic of several recent analyst reports. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. UBS Group increased their price objective on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Bank of America boosted their target price on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Finally, Scotiabank upped their target price on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. 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. According to MarketBeat, Chevron presently has a consensus rating of “Hold” and a consensus target price of $166.55.

Chevron Price Performance

Shares of NYSE CVX opened at $149.93 on Friday. 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 stock has a fifty day simple moving average of $154.83 and a two-hundred day simple moving average of $150.74. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market cap of $301.89 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.48 EPS. Analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a $1.71 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

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.