BOK Financial Private Wealth Inc. Has $604,000 Stake in Chevron Corporation $CVX

BOK Financial Private Wealth Inc. lowered its stake in Chevron Corporation (NYSE:CVX) by 8.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,217 shares of the oil and gas company’s stock after selling 386 shares during the period. BOK Financial Private Wealth Inc.’s holdings in Chevron were worth $604,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd lifted its stake in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 122 shares during the period. Elequin Capital LP acquired a new stake in Chevron in the first quarter worth about $31,000. Quaker Wealth Management LLC raised its holdings in Chevron by 197.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares during the last quarter. IMG Wealth Management Inc. lifted its position in Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 91 shares during the period. Finally, Investment Management Corp VA ADV boosted its stake in shares of Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CVX. Evercore ISI reaffirmed an “outperform” rating and set a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Morgan Stanley lifted their price objective on Chevron from $174.00 to $177.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. UBS Group increased their target price on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Melius assumed coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Finally, Piper Sandler upped their price target on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $165.40.

Chevron Stock Performance

Shares of CVX opened at $155.10 on Monday. The firm has a market cap of $268.01 billion, a P/E ratio of 19.96, a PEG ratio of 4.40 and a beta of 0.83. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. 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 firm’s 50 day moving average price is $155.55 and its two-hundred day moving average price is $149.80.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.14. The firm had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the business posted $2.48 EPS. On average, analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be paid a $1.71 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

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.