Orion Porfolio Solutions LLC Has $24.16 Million Holdings in Chevron Corporation $CVX

Orion Porfolio Solutions LLC grew its stake in Chevron Corporation (NYSE:CVX) by 13.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 168,722 shares of the oil and gas company’s stock after purchasing an additional 20,486 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in Chevron were worth $24,159,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Elequin Capital LP purchased a new position in Chevron in the 1st quarter valued at approximately $31,000. Quaker Wealth Management LLC grew its position in shares of Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares in the last quarter. Vermillion & White Wealth Management Group LLC raised its stake in shares of Chevron by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 118 shares during the period. IMG Wealth Management Inc. lifted its holdings in Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares in the last quarter. Finally, GFG Capital LLC purchased a new stake in Chevron during the 2nd quarter worth about $42,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Piper Sandler dropped their target price on Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Melius Research started coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Finally, UBS Group restated a “buy” rating on shares of Chevron in a research report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $166.00.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the transaction, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. The trade was a 19.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

Chevron Price Performance

CVX opened at $149.95 on Monday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The company has a market cap of $301.93 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 8.91 and a beta of 0.68. The stock has a fifty day simple moving average of $152.74 and a two-hundred day simple moving average of $152.19. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The firm had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. During the same period in the prior year, the firm earned $2.48 EPS. The company’s revenue was down 1.9% compared to the same quarter last year. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s payout ratio is 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.