Wise Wealth Partners Takes $433,000 Position in Chevron Corporation $CVX

Wise Wealth Partners purchased a new position in Chevron Corporation (NYSE:CVX) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 3,022 shares of the oil and gas company’s stock, valued at approximately $433,000.

Other institutional investors also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd raised its holdings in Chevron by 420.7% in the first 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 in the last quarter. Elequin Capital LP purchased a new position in shares of Chevron in the 1st quarter worth approximately $31,000. Cloud Capital Management LLC bought a new position in shares of Chevron during the 1st quarter worth approximately $39,000. Investment Management Corp VA ADV raised its stake in shares of Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 149 shares in the last quarter. Finally, Cooksen Wealth LLC purchased a new stake in Chevron during the first quarter valued at approximately $43,000. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

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

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Mizuho reduced their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Evercore ISI restated an “outperform” rating and set a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Finally, Melius started coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $165.05.

Chevron Stock Up 0.3%

Shares of CVX stock opened at $153.99 on Tuesday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a market capitalization of $266.09 billion, a PE ratio of 19.82, 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 stock’s 50-day simple moving average is $156.19 and its 200-day simple moving average is $148.80.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating 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 firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the firm earned $2.55 earnings per share. Chevron’s revenue for the quarter was down 12.4% on a year-over-year basis. Equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron’s dividend payout ratio is presently 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.