Langley Wealth Management LLC Invests $141,000 in Chevron Corporation $CVX

Langley Wealth Management LLC bought a new stake in Chevron Corporation (NYSE:CVX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,943 shares of the oil and gas company’s stock, valued at approximately $141,000. Chevron comprises 1.0% of Langley Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest position.

A number of other large investors also recently made changes to their positions in CVX. United Bank grew its holdings in Chevron by 7.7% in the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after buying an additional 796 shares in the last quarter. Schnieders Capital Management LLC. increased its position in Chevron by 9.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after buying an additional 4,214 shares during the period. BNP Paribas lifted its holdings in shares of Chevron by 76.4% during the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after buying an additional 191 shares in the last quarter. Osterweis Capital Management Inc. lifted its holdings in shares of Chevron by 678.9% during the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock worth $195,000 after buying an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC boosted its position in shares of Chevron by 3.6% in the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock valued at $2,299,000 after acquiring an additional 553 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Chevron stock opened at $199.99 on Friday. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The business’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 PE ratio of 19.17, a P/E/G ratio of 0.61 and a beta of 0.49.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business’s quarterly revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.77 earnings per share. As a group, analysts expect that Chevron Corporation will post 15.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed 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 is Wednesday, August 19th. Chevron’s dividend payout ratio is currently 68.26%.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 5,547 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John B. Hess sold 710,665 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the sale, the director directly owned 363,711 shares in the company, valued at approximately $70,596,305.10. The trade was a 66.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, 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.

Analysts Set New Price Targets

Several research firms recently commented on CVX. The Goldman Sachs Group restated a “buy” rating and issued a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. Zacks Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. TD Cowen increased their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Finally, Bank of America raised their target price on shares of Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

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.