Langley Wealth Management LLC Invests $141,000 in Chevron Corporation $CVX

Langley Wealth Management LLC acquired a new stake in Chevron Corporation (NYSE:CVX) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 4,943 shares of the oil and gas company’s stock, valued at approximately $141,000. Chevron makes up 1.0% of Langley Wealth Management LLC’s portfolio, making the stock its 23rd biggest position.

A number of other large investors have also added to or reduced their stakes in CVX. Norges Bank bought a new stake in Chevron during the 4th quarter worth approximately $3,727,586,000. State Street Corp increased its position in Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after acquiring an additional 12,789,399 shares during the period. Berkshire Hathaway Inc raised its stake in shares of Chevron by 6.6% during the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after acquiring an additional 8,091,570 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Chevron by 822.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock valued at $946,658,000 after acquiring an additional 5,537,580 shares during the last quarter. Finally, Aristotle Capital Management LLC lifted its holdings in shares of Chevron by 653.0% during the first quarter. Aristotle Capital Management LLC now owns 4,526,223 shares of the oil and gas company’s stock worth $936,492,000 after purchasing an additional 3,925,137 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several analyst reports. TD Cowen boosted their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Weiss Ratings raised Chevron from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. Jefferies Financial Group reiterated a “buy” rating and issued a $216.00 price target on shares of Chevron in a research report on Friday, July 10th. Finally, Mizuho set a $224.00 price target on Chevron in a research note on Monday, August 3rd. Twenty investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $207.48.

Chevron Price Performance

Shares of NYSE CVX opened at $199.99 on Friday. The firm has a market capitalization of $395.13 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.61 and a beta of 0.49. The firm’s 50-day moving average price is $183.30 and its 200-day moving average price is $186.88. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. During the same period last year, the business posted $1.77 EPS. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. Equities research analysts anticipate that Chevron Corporation will post 15.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.6%. Chevron’s dividend payout ratio (DPR) is presently 68.26%.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 100,000 shares of Chevron stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the transaction, the director owned 178,045 shares of the company’s stock, valued at $34,587,021.70. The trade was a 35.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael K. Wirth sold 5,547 shares of Chevron stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the transaction, the chief executive officer directly owned 26,308 shares in the company, valued at $4,919,596. This represents a 17.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,196,212 shares of company stock valued at $231,819,366. 0.56% of the stock is currently owned by insiders.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.