Chevron Corporation $CVX Shares Purchased by King Wealth Management Group

King Wealth Management Group boosted its position in shares of Chevron Corporation (NYSE:CVX) by 7.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,208 shares of the oil and gas company’s stock after acquiring an additional 1,153 shares during the period. King Wealth Management Group’s holdings in Chevron were worth $2,321,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Kingstone Capital Partners Texas LLC lifted its holdings in Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after buying an additional 83,702,101 shares during the last quarter. GQG Partners LLC purchased a new position in shares of Chevron in the 1st quarter valued at about $1,466,751,000. Nuveen LLC acquired a new stake in shares of Chevron during the 1st quarter worth about $1,362,232,000. Charles Schwab Investment Management Inc. lifted its stake in Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after purchasing an additional 1,574,464 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings 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 purchasing an additional 1,107,628 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was 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 of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVX. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a report on Friday, July 18th. Bank of America lifted their price target on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Melius began coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Finally, UBS Group boosted their target price on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus target price of $166.25.

Chevron Price Performance

Shares of CVX opened at $155.42 on Friday. 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 fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a 50-day simple moving average of $155.19 and a 200-day simple moving average of $150.10. The company has a market capitalization of $312.95 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last posted 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. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same period in the prior year, the business earned $2.48 EPS. The firm’s revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron’s dividend payout ratio is presently 96.20%.

Chevron Profile

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.