Integrated Wealth Concepts LLC Raises Holdings in Chevron Corporation $CVX

Integrated Wealth Concepts LLC boosted its holdings in shares of Chevron Corporation (NYSE:CVX) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 125,742 shares of the oil and gas company’s stock after acquiring an additional 3,783 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Chevron were worth $19,527,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Vishria Bird Financial Group LLC grew its holdings in shares of Chevron by 1.2% during the 3rd quarter. Vishria Bird Financial Group LLC now owns 5,285 shares of the oil and gas company’s stock worth $821,000 after purchasing an additional 65 shares during the period. Nexus Investment Management ULC raised its holdings in Chevron by 0.9% in the 3rd quarter. Nexus Investment Management ULC now owns 7,641 shares of the oil and gas company’s stock valued at $1,187,000 after buying an additional 65 shares during the period. Scott & Selber Inc. lifted its position in Chevron by 0.5% in the third quarter. Scott & Selber Inc. now owns 13,391 shares of the oil and gas company’s stock valued at $2,079,000 after buying an additional 65 shares during the last quarter. White Knight Strategic Wealth Advisors LLC lifted its position in Chevron by 3.0% in the second quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock valued at $319,000 after buying an additional 65 shares during the last quarter. Finally, William B. Walkup & Associates Inc. boosted its stake in Chevron by 1.0% during the third quarter. William B. Walkup & Associates Inc. now owns 6,356 shares of the oil and gas company’s stock worth $987,000 after buying an additional 66 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of a number of recent analyst reports. Scotiabank reiterated a “sector perform” rating and set a $168.00 price target on shares of Chevron in a research report on Friday, January 16th. Bank of America upped their price objective on shares of Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Melius Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a report on Tuesday, February 17th. UBS Group reissued a “buy” rating and issued a $212.00 target price on shares of Chevron in a research report on Monday, February 2nd. Finally, Sanford C. Bernstein upped their price target on Chevron from $170.00 to $172.00 and gave the stock a “market perform” rating in a research note on Monday, January 5th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and an average target price of $182.05.

Insiders Place Their Bets

In related news, insider R. Hewitt Pate sold 47,200 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $192.12, for a total value of $9,068,064.00. Following the completion of the sale, the insider directly owned 8,558 shares of the company’s stock, valued at $1,644,162.96. This represents a 84.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total value of $26,233,632.00. Following the transaction, the insider owned 11,337 shares in the company, valued at $2,130,449.04. This represents a 92.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,099,397 shares of company stock worth $196,196,468. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Down 0.0%

CVX stock opened at $196.95 on Monday. The stock has a market cap of $393.00 billion, a P/E ratio of 29.57, a PEG ratio of 1.82 and a beta of 0.67. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $198.88. The company’s 50 day moving average is $177.33 and its two-hundred day moving average is $162.07.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The firm had revenue of $45.79 billion for the quarter, compared to the consensus estimate of $48.18 billion. During the same period last year, the firm posted $2.06 EPS. The company’s revenue was down 10.2% on a year-over-year basis. Research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date was Tuesday, February 17th. Chevron’s payout ratio is presently 106.91%.

About Chevron

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.