MinichMacGregor Wealth Management LLC Purchases New Holdings in Chevron Co. (NYSE:CVX)

MinichMacGregor Wealth Management LLC purchased a new stake in Chevron Co. (NYSE:CVXGet Rating) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,014 shares of the oil and gas company’s stock, valued at approximately $291,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. Your Advocates Ltd. LLP bought a new position in Chevron during the 1st quarter worth approximately $25,000. Cordant Inc. bought a new position in Chevron during the 1st quarter worth approximately $29,000. Joseph P. Lucia & Associates LLC bought a new position in Chevron during the 1st quarter worth approximately $30,000. Landmark Wealth Management LLC bought a new position in Chevron during the 1st quarter worth approximately $34,000. Finally, Byrne Asset Management LLC bought a new position in Chevron during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 69.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley increased their target price on Chevron from $187.00 to $193.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 6th. Citigroup reduced their target price on Chevron from $170.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 13th. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and dropped their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 20th. Bank of America increased their price target on Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Finally, Barclays increased their price target on Chevron from $183.00 to $196.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $169.20.

Chevron Stock Down 0.8 %

Shares of CVX stock opened at $155.01 on Thursday. Chevron Co. has a 1 year low of $96.24 and a 1 year high of $182.40. The stock has a market cap of $304.57 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 0.61 and a beta of 1.15. The business’s fifty day moving average is $155.36 and its 200-day moving average is $160.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.31.

Chevron (NYSE:CVXGet Rating) last issued its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $1.16. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The company had revenue of $68.76 billion for the quarter, compared to analysts’ expectations of $57.69 billion. During the same period last year, the firm earned $1.71 EPS. The firm’s revenue for the quarter was up 82.9% on a year-over-year basis. Equities analysts expect that Chevron Co. will post 18.37 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Thursday, August 18th. Chevron’s dividend payout ratio (DPR) is presently 37.89%.

Insider Activity

In other news, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction on Monday, August 1st. The stock was sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the transaction, the director now directly owns 3,560 shares in the company, valued at approximately $574,762. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $164.01, for a total transaction of $13,990,053.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wanda M. Austin sold 11,432 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $161.45, for a total value of $1,845,696.40. Following the sale, the director now directly owns 3,560 shares of the company’s stock, valued at $574,762. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 141,732 shares of company stock worth $23,024,499. 0.32% of the stock is owned by company insiders.

Chevron Company Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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