WealthTrust Asset Management LLC Buys 519 Shares of Chevron Corporation $CVX
by Danessa Lincoln · The Markets DailyWealthTrust Asset Management LLC boosted its stake in shares of Chevron Corporation (NYSE:CVX – Free Report) by 24.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,636 shares of the oil and gas company’s stock after buying an additional 519 shares during the quarter. WealthTrust Asset Management LLC’s holdings in Chevron were worth $378,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd boosted its holdings in shares of Chevron by 420.7% in 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 purchasing an additional 122 shares during the period. Elequin Capital LP bought a new stake in Chevron during the 1st quarter valued at $31,000. Quaker Wealth Management LLC lifted its holdings in shares of Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after buying an additional 439 shares during the period. IMG Wealth Management Inc. grew its position in shares of Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after buying an additional 91 shares in the last quarter. Finally, Investment Management Corp VA ADV increased its stake in shares of Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 149 shares during the period. 72.42% of the stock is currently owned by institutional investors.
Chevron Price Performance
Shares of NYSE CVX opened at $157.61 on Friday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week 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 company has a market cap of $317.35 billion, a PE ratio of 20.28, a P/E/G ratio of 4.40 and a beta of 0.83. The business has a 50-day simple moving average of $155.26 and a two-hundred day simple moving average of $150.22.
Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. The firm had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron’s revenue was down 1.9% on a year-over-year basis. During the same period last year, the firm posted $2.48 EPS. As a group, equities analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.
Chevron Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio is presently 96.20%.
Insiders Place Their Bets
In other Chevron news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated 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. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. TD Cowen upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Melius began coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a report on Friday. Bank of America upped their target price on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Finally, Melius Research initiated coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus target price of $166.55.
View Our Latest Stock Report on Chevron
About Chevron
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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