SWS Partners Acquires Shares of 14,607 Chevron Corporation $CVX

SWS Partners acquired a new stake in Chevron Corporation (NYSE:CVX) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 14,607 shares of the oil and gas company’s stock, valued at approximately $2,421,000.

A number of other institutional investors have also recently modified their holdings of the stock. Cornerstone Advisory LLC increased its position in shares of Chevron by 0.9% in the first quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock worth $1,164,000 after purchasing an additional 52 shares during the period. Compton Financial Group LLC lifted its position in Chevron by 1.9% during the first quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock worth $609,000 after purchasing an additional 56 shares during the period. Quantum Portfolio Management LLC grew its stake in Chevron by 2.7% during the first quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock worth $435,000 after buying an additional 56 shares in the last quarter. Wealthspire Retirement LLC grew its stake in Chevron by 0.9% during the first quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company’s stock worth $1,351,000 after buying an additional 56 shares in the last quarter. Finally, D.B. Root & Company LLC increased its holdings in Chevron by 1.0% in the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after buying an additional 57 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on CVX shares. Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. Wall Street Zen upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. TD Cowen lifted their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a research report on Thursday, July 2nd. Finally, Mizuho set a $224.00 price objective on shares of Chevron in a research report on Monday, August 3rd. Twenty investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $207.48.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 5,547 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total value of $1,037,289.00. Following the sale, the chief executive officer owned 26,308 shares in the company, valued at $4,919,596. This trade represents a 17.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John B. Hess sold 710,665 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the transaction, the director owned 363,711 shares of the company’s stock, valued at $70,596,305.10. This trade represents a 66.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,196,212 shares of company stock valued at $231,819,366. 0.56% of the stock is owned by corporate insiders.

Chevron Stock Performance

Chevron stock opened at $199.99 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The stock has a market cap of $395.13 billion, a PE ratio of 19.17, a P/E/G ratio of 0.60 and a beta of 0.49. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The business’s 50-day moving average price is $183.30 and its two-hundred day moving average price is $186.88.

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

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio is currently 68.26%.

Chevron 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.