Chevron Corporation $CVX Shares Purchased by Hubbell Strickland Wealth Management LLC

Hubbell Strickland Wealth Management LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,081 shares of the oil and gas company’s stock after purchasing an additional 68 shares during the quarter. Chevron accounts for approximately 0.6% of Hubbell Strickland Wealth Management LLC’s portfolio, making the stock its 23rd biggest position. Hubbell Strickland Wealth Management LLC’s holdings in Chevron were worth $1,443,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd increased its position in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP purchased a new position in Chevron during the 1st quarter valued at about $31,000. Cloud Capital Management LLC acquired a new position in Chevron in the 1st quarter valued at about $39,000. Investment Management Corp VA ADV increased its stake in Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 149 shares during the period. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Chevron during the first quarter worth about $45,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of Chevron stock opened at $153.59 on Monday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a market cap of $265.40 billion, a PE ratio of 19.77, a P/E/G ratio of 1.99 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The business has a 50-day simple moving average of $156.23 and a 200-day simple moving average of $148.87.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the previous year, the company posted $2.55 earnings per share. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th 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 of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is 88.03%.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVX. Wells Fargo & Company restated an “overweight” rating and issued a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. UBS Group upped their price objective on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Barclays reiterated an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Piper Sandler upped their price target on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research report on Saturday, September 27th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Chevron presently has a consensus rating of “Hold” and a consensus price target of $165.05.

About Chevron

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.