Wealthfront Advisers LLC Has $22.38 Million Position in Chevron Corporation $CVX

Wealthfront Advisers LLC cut its stake in shares of Chevron Corporation (NYSE:CVX) by 11.1% during the 2nd quarter, Holdings Channel reports. The fund owned 156,316 shares of the oil and gas company’s stock after selling 19,589 shares during the period. Wealthfront Advisers LLC’s holdings in Chevron were worth $22,383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. GAMMA Investing LLC increased its position in Chevron by 27.3% in the 1st quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock valued at $5,408,000 after buying an additional 6,928 shares in the last quarter. Beacon Financial Advisory LLC acquired a new stake in Chevron in the first quarter valued at approximately $225,000. Victrix Investment Advisors acquired a new position in shares of Chevron during the first quarter worth approximately $448,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Chevron by 2.2% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 72,589 shares of the oil and gas company’s stock worth $12,143,000 after purchasing an additional 1,564 shares during the period. Finally, Old North State Wealth Management LLC lifted its holdings in shares of Chevron by 7.4% in the 1st quarter. Old North State Wealth Management LLC now owns 3,780 shares of the oil and gas company’s stock worth $634,000 after purchasing an additional 260 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of NYSE CVX opened at $155.63 on Friday. The company has a market capitalization of $268.92 billion, a PE ratio of 20.03, a PEG ratio of 4.42 and a beta of 0.84. 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 stock’s 50 day moving average price is $156.04 and its 200-day moving average price is $148.46. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings results 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. The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period last year, the company posted $2.55 earnings per share. On average, equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on CVX. 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. Raymond James Financial reissued an “outperform” rating and set a $160.00 target price (down from $170.00) on shares of Chevron in a research report on Friday, October 17th. Scotiabank raised their price target on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Mizuho cut their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Finally, Wells Fargo & Company started coverage on Chevron in a research note on Friday, October 17th. They issued an “overweight” rating and a $190.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Chevron has an average rating of “Hold” and an average price target of $165.25.

Insider Transactions at Chevron

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

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.