Integrated Wealth Concepts LLC Buys 11,795 Shares of Chevron Corporation $CVX

Integrated Wealth Concepts LLC boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 8.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,114 shares of the oil and gas company’s stock after acquiring an additional 11,795 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Chevron were worth $24,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Midwest Capital Advisors LLC bought a new stake in Chevron during the 1st quarter valued at $25,000. Main Street Group LTD bought a new position in shares of Chevron during the first quarter valued at about $28,000. Phillip James Consulting Co. purchased a new stake in shares of Chevron during the fourth quarter worth about $26,000. Kilter Group LLC bought a new stake in shares of Chevron in the second quarter worth about $28,000. Finally, Core Wealth Advisors LLC bought a new position in Chevron during the 4th quarter valued at approximately $26,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.7%

CVX opened at $210.09 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The stock has a market cap of $415.08 billion, a PE ratio of 20.14, a PEG ratio of 0.61 and a beta of 0.50. The business has a 50 day moving average of $192.79 and a 200-day moving average of $190.20.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate 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%.The firm’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 earnings per share. Equities research analysts predict that Chevron Corporation will post 16.51 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.4%. Chevron’s dividend payout ratio is currently 68.26%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Venezuela expansion adds production potential: Chevron plans to more than double the number of oil rigs it operates in Venezuela as part of a five-year growth plan. The company’s expanded joint ventures target production of approximately 600,000 barrels per day and include additional acreage in the Carabobo region. The initiative could provide meaningful production growth and leverage Venezuela’s large reserves. Chevron to double oil rigs in Venezuela as part of growth plan
• Positive Sentiment: Large investment signals confidence in long-term growth: Chevron is expected to invest more than $7 billion over five years to expand its Venezuelan operations. Management says strong cash flow and synergies from the Hess transaction give the company financial flexibility to pursue the expansion while continuing to support shareholders. Chevron doubles down on Venezuela with a $7 billion oil bet
• Positive Sentiment: Oil-market backdrop remains supportive: Reports of higher oil prices amid escalating Middle East tensions are supporting energy-sector sentiment and Chevron’s earnings outlook. Analysts have also argued that the company’s rally could continue, citing strong energy prices, earnings and operating fundamentals. Stock Market Today: Dow dives, oil pops
• Neutral Sentiment: Management commentary reinforces the strategy: At Barclays’ energy conference, Chevron executives discussed the Venezuela growth plan and broader operating priorities. Investors will look for additional detail on capital spending, production timing and returns. Chevron presents at Barclays energy conference
• Negative Sentiment: Valuation and geopolitical risks are rising: Chevron has surged more than 40% this year and is close to its 52-week high, leaving less room for disappointment. Venezuela’s political, sanctions and operational risks could delay or reduce the expected benefits of the expansion. Chevron stock is near a record high
• Neutral Sentiment: Dividend appeal remains intact but requires substantial capital: An investor starting from scratch would need more than $146,000 in Chevron shares to generate $5,000 in annual passive income at current dividend levels. This highlights the income potential but is unlikely to be a major near-term trading catalyst. How many shares of Chevron are needed for annual passive income

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 317,100 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the sale, the chief executive officer owned 26,308 shares of the company’s stock, valued at $5,273,701.68. The trade was a 92.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider R. Pate sold 2,470 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total transaction of $506,621.70. Following the completion of the sale, the insider owned 10,794 shares in the company, valued at approximately $2,213,957.34. This trade represents a 18.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,152,582 shares of company stock valued at $225,853,661 in the last quarter. 0.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Mizuho set a $224.00 target price on Chevron in a research note on Monday, August 3rd. Bank of America raised their price target on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. BMO Capital Markets boosted their price objective on shares of Chevron from $210.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, September 3rd. Wells Fargo & Company raised their target price on shares of Chevron from $226.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Finally, UBS Group reaffirmed a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.35.

About Chevron

Chevron Corporation is an integrated energy company engaged in the exploration, production, transportation and sale of crude oil and natural gas. The company also manufactures and markets transportation fuels, lubricants, petrochemicals and additives through operations and brands that include Chevron, Texaco and Caltex.

Chevron’s upstream activities include oil and natural gas exploration and production, while its downstream business includes refining, fuel marketing, transportation and related energy services.