Waypoint Wealth Partners Inc. Has $345,000 Stock Position in Chevron Corporation $CVX

by · The Cerbat Gem

Waypoint Wealth Partners Inc. increased its stake in Chevron Corporation (NYSE:CVX – Free Report) by 47.5% during the second quarter, Holdings Channel reports. The firm owned 2,411 shares of the oil and gas company’s stock after acquiring an additional 776 shares during the period. Waypoint Wealth Partners Inc.’s holdings in Chevron were worth $345,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CVX. GQG Partners LLC bought a new position in shares of Chevron in the first quarter worth $1,466,751,000. Nuveen LLC bought a new position in Chevron in the first quarter valued at about $1,362,232,000. GAMMA Investing LLC grew its position in Chevron by 21,191.5% in the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock valued at $904,746,000 after acquiring an additional 5,382,847 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after acquiring an additional 1,574,464 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Chevron by 141.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after acquiring an additional 1,107,628 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.3%

NYSE CVX opened at $159.98 on Thursday. The company has a market cap of $276.44 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 2.00 and a beta of 0.90. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The business has a 50 day moving average price of $155.13 and a 200-day moving average price of $148.94. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the company posted $2.55 earnings per share. Chevron’s revenue was down 12.4% compared to the same quarter last year. As a group, equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.3%. Chevron’s payout ratio is currently 88.03%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CVX shares. Morgan Stanley started coverage on Chevron in a research report on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price on the stock. Piper Sandler lifted their target price on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Melius started coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. UBS Group lifted their target price on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Finally, TD Cowen lifted their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average target price of $165.05.

View Our Latest Research Report on CVX

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was 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 accessible through this link. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Chevron Company Profile

(Free Report)

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.

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