OneAscent Wealth Management LLC Has $978,000 Stake in Chevron Corporation $CVX

OneAscent Wealth Management LLC lifted its stake in Chevron Corporation (NYSE:CVX) by 87.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,827 shares of the oil and gas company’s stock after buying an additional 3,186 shares during the period. OneAscent Wealth Management LLC’s holdings in Chevron were worth $978,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CVX. Analyst IMS Investment Management Services Ltd. raised its position in Chevron by 1.0% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock worth $966,000 after purchasing an additional 67 shares in the last quarter. Greenfield Savings Bank lifted its holdings in Chevron by 0.6% during the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after purchasing an additional 68 shares during the last quarter. Atwater Malick LLC boosted its position in Chevron by 2.4% in the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after buying an additional 68 shares in the last quarter. Hubbell Strickland Wealth Management LLC grew its position in Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock worth $1,443,000 after acquiring an additional 68 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of Chevron by 10.3% in the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 70 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Evercore ISI reissued an “outperform” rating and issued a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Barclays dropped their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. TD Cowen increased their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron presently has an average rating of “Hold” and a consensus price target of $165.40.

Chevron Stock Performance

Shares of NYSE:CVX opened at $152.98 on Friday. The firm’s 50 day simple moving average is $155.66 and its 200 day simple moving average is $149.48. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a market capitalization of $264.34 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 4.40 and a beta of 0.83. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. The firm had revenue of $49.73 billion during the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.48 earnings per share. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $1.71 per share. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s payout ratio is currently 96.20%.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction 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 completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Chevron 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.