One Wealth Advisors LLC Trims Stake in Chevron Corporation $CVX

One Wealth Advisors LLC lessened its stake in Chevron Corporation (NYSE:CVX) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,332 shares of the oil and gas company’s stock after selling 73 shares during the period. One Wealth Advisors LLC’s holdings in Chevron were worth $477,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CCG Wealth Management LLC grew its stake in Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock valued at $1,060,000 after acquiring an additional 145 shares during the period. Ignite Planners LLC lifted its stake in Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock valued at $2,060,000 after buying an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. boosted its holdings in Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after buying an additional 495 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Chevron by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock worth $24,075,000 after buying an additional 675 shares in the last quarter. Finally, Capital Advisors Inc. OK raised its holdings in shares of Chevron by 0.3% during the first quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock valued at $95,231,000 after acquiring an additional 1,755 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Chevron stock opened at $155.38 on Wednesday. The company’s 50 day simple moving average is $156.27 and its 200-day simple moving average is $149.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a market capitalization of $268.50 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 1.95 and a beta of 0.90.

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

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron’s dividend payout ratio is 88.03%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. TD Cowen increased their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Morgan Stanley assumed coverage on shares of Chevron in a research report on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price for the company. Melius started coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. Finally, Piper Sandler boosted their target price on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $165.05.

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value 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 trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

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.