One Wealth Advisors LLC Buys New Shares in Chevron Corporation $CVX

One Wealth Advisors LLC bought a new position in shares of Chevron Corporation (NYSE:CVX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,176 shares of the oil and gas company’s stock, valued at approximately $526,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Cornerstone Advisory LLC increased its stake in shares of Chevron by 0.9% during the 1st quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock valued at $1,164,000 after acquiring an additional 52 shares during the last quarter. Compton Financial Group LLC boosted its position in shares of Chevron by 1.9% in the first quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock worth $609,000 after acquiring an additional 56 shares during the last quarter. Quantum Portfolio Management LLC boosted its position in shares of Chevron by 2.7% in the first quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock worth $435,000 after acquiring an additional 56 shares during the last quarter. Wealthspire Retirement LLC grew its holdings in Chevron by 0.9% in the first quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company’s stock valued at $1,351,000 after purchasing an additional 56 shares during the period. Finally, D.B. Root & Company LLC increased its position in Chevron by 1.0% during the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock worth $846,000 after purchasing an additional 57 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CVX shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 price target on shares of Chevron in a research note on Tuesday, May 5th. Morgan Stanley dropped their price objective on Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Barclays increased their target price on Chevron from $213.00 to $216.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Finally, UBS Group reissued a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

Insiders Place Their Bets

In related news, Director John B. Hess sold 100,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the sale, the director directly owned 178,045 shares in the company, valued at approximately $34,587,021.70. This represents a 35.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael K. Wirth sold 5,547 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total value of $1,037,289.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares in the company, valued at $4,919,596. This trade represents a 17.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,196,212 shares of company stock valued at $231,819,366. 0.56% of the stock is owned by corporate insiders.

Chevron Trading Up 1.2%

Shares of CVX stock opened at $199.99 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The firm’s 50 day moving average price is $183.30 and its two-hundred day moving average price is $186.88. The stock has a market cap of $395.13 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 0.61 and a beta of 0.49.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same quarter in the prior year, the business earned $1.77 earnings per share. The business’s quarterly revenue was up 57.4% compared to the same quarter last year. On average, analysts anticipate that Chevron Corporation will post 15.86 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s dividend payout ratio is 68.26%.

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.