SilverOak Wealth Management LLC Invests $202,000 in Chevron Corporation $CVX

by · The Cerbat Gem

SilverOak Wealth Management LLC acquired a new position in Chevron Corporation (NYSE:CVX – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,414 shares of the oil and gas company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd grew its position in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares during the last quarter. Elequin Capital LP purchased a new position in shares of Chevron in the 1st quarter worth approximately $31,000. Cloud Capital Management LLC purchased a new position in shares of Chevron in the 1st quarter worth approximately $39,000. Investment Management Corp VA ADV grew its position 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 worth $39,000 after buying an additional 149 shares during the last quarter. Finally, GFG Capital LLC purchased a new position in shares of Chevron in the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.3%

CVX stock opened at $151.59 on Friday. The firm’s fifty day simple moving average is $156.07 and its 200-day simple moving average is $148.25. The company has a market capitalization of $261.95 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 2.00 and a beta of 0.84. 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 Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

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

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron’s payout ratio is currently 88.03%.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 375,000 shares of the business’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 completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Bank of America boosted their target price on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Mizuho dropped their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Finally, Melius began coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $165.40.

Read Our Latest Analysis on CVX

About Chevron

(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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