Chevron Corporation $CVX Shares Bought by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. grew its position in Chevron Corporation (NYSE:CVX) by 181.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,367 shares of the oil and gas company’s stock after purchasing an additional 7,328 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Chevron were worth $1,765,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Kavar Capital Partners Group LLC increased its position in Chevron by 1.8% during the 3rd quarter. Kavar Capital Partners Group LLC now owns 23,708 shares of the oil and gas company’s stock valued at $3,682,000 after buying an additional 414 shares in the last quarter. Fruth Investment Management boosted its holdings in Chevron by 14.8% in the third quarter. Fruth Investment Management now owns 51,493 shares of the oil and gas company’s stock worth $7,996,000 after acquiring an additional 6,652 shares in the last quarter. Live Oak Private Wealth LLC grew its stake in shares of Chevron by 0.8% during the third quarter. Live Oak Private Wealth LLC now owns 68,452 shares of the oil and gas company’s stock worth $10,630,000 after acquiring an additional 568 shares during the last quarter. KW Wealth Management LLC acquired a new position in shares of Chevron during the third quarter valued at about $560,000. Finally, Coastwise Capital Group LLC increased its holdings in shares of Chevron by 1.4% during the third quarter. Coastwise Capital Group LLC now owns 8,625 shares of the oil and gas company’s stock valued at $1,339,000 after acquiring an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CVX. Mizuho lifted their target price on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Wells Fargo & Company lifted their price objective on shares of Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Zacks Research raised shares of Chevron from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 23rd. Hsbc Global Res raised Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Finally, Raymond James Financial restated an “outperform” rating and issued a $160.00 target price (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $166.00.

Insider Activity

In other news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.6%

Shares of NYSE CVX opened at $150.95 on Tuesday. The business has a 50-day moving average of $152.04 and a two-hundred day moving average of $152.92. The company has a market capitalization of $303.93 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 9.00 and a beta of 0.68. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the company earned $2.48 EPS. On average, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th 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, November 18th. Chevron’s payout ratio is currently 96.20%.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.