Wealth Alliance Advisory Group LLC Has $3.36 Million Stock Position in Chevron Corporation $CVX

Wealth Alliance Advisory Group LLC increased its position in shares of Chevron Corporation (NYSE:CVX) by 8.1% during the second quarter, Holdings Channel reports. The institutional investor owned 23,454 shares of the oil and gas company’s stock after purchasing an additional 1,765 shares during the period. Wealth Alliance Advisory Group LLC’s holdings in Chevron were worth $3,358,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CVX. Bank Pictet & Cie Europe AG increased its holdings in Chevron by 7.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock worth $5,212,000 after purchasing an additional 2,641 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in Chevron during the 4th quarter worth approximately $258,000. Sherbrooke Park Advisers LLC bought a new stake in Chevron during the 4th quarter worth approximately $389,000. Scissortail Wealth Management LLC increased its holdings in Chevron by 23,923.8% during the 4th quarter. Scissortail Wealth Management LLC now owns 5,045 shares of the oil and gas company’s stock worth $731,000 after purchasing an additional 5,024 shares in the last quarter. Finally, Safeguard Investment Advisory Group LLC increased its holdings in Chevron by 3.6% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 5,485 shares of the oil and gas company’s stock worth $794,000 after purchasing an additional 193 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Scotiabank reissued a “sector perform” rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a report on Friday, July 11th. TD Cowen boosted their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $178.00 target price on shares of Chevron in a report on Friday, August 1st. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a report on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $164.80.

Chevron Stock Performance

CVX stock opened at $157.23 on Friday. The firm has a market cap of $271.69 billion, a PE ratio of 20.24, a P/E/G ratio of 2.00 and a beta of 0.90. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $154.67 and a 200-day moving average of $148.85. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same period in the prior year, the company posted $2.55 earnings per share. Chevron’s quarterly revenue was down 12.4% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is 88.03%.

Chevron Company Profile

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.