Corient Private Wealth LP Acquires New Shares in Chevron Corporation $CVX

Corient Private Wealth LP bought a new position in Chevron Corporation (NYSE:CVX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,460,566 shares of the oil and gas company’s stock, valued at approximately $395,511,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Midwest Capital Advisors LLC purchased a new stake in shares of Chevron in the first quarter worth about $25,000. Core Wealth Advisors LLC purchased a new position in Chevron during the fourth quarter valued at approximately $26,000. Phillip James Consulting Co. bought a new stake in Chevron during the 4th quarter worth approximately $26,000. Basso Capital Management L.P. purchased a new stake in Chevron in the 4th quarter worth approximately $27,000. Finally, Karpus Management Inc. purchased a new stake in Chevron in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded Chevron from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a report on Thursday, July 2nd. Jefferies Financial Group reissued a “buy” rating and set a $216.00 price objective on shares of Chevron in a report on Friday, July 10th. Finally, Dbs Bank raised shares of Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Twenty analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $207.48.

Chevron Price Performance

CVX opened at $200.26 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $395.67 billion, a P/E ratio of 19.20, a PEG ratio of 0.60 and a beta of 0.49. The stock has a 50-day moving average price of $186.34 and a 200-day moving average price of $188.63. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. The company had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.Chevron’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period last year, the firm posted $1.77 EPS. Equities analysts predict that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. Chevron’s dividend payout ratio (DPR) is 68.26%.

Insider Buying and Selling at Chevron

In related news, insider Andrew Benjamin Walz sold 16,800 shares of Chevron stock in a transaction on Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider owned 14 shares in the company, valued at $2,814.84. This trade represents a 99.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hess sold 100,000 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the completion of the sale, the director directly owned 178,045 shares of the company’s stock, valued at $34,587,021.70. This represents a 35.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,152,582 shares of company stock valued at $225,853,661. Insiders own 0.56% of the company’s stock.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.