Perfromance Wealth Partners LLC Buys New Position in Chevron Corporation $CVX

Perfromance Wealth Partners LLC bought a new stake in shares of Chevron Corporation (NYSE:CVX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,429 shares of the oil and gas company’s stock, valued at approximately $205,000.

Other hedge funds also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC lifted its holdings in Chevron by 652,139.5% during the second 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 acquiring an additional 83,702,101 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings 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 acquiring an additional 1,574,464 shares during the period. Invesco Ltd. lifted its holdings in Chevron by 5.5% during the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock worth $2,652,437,000 after acquiring an additional 827,851 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Chevron by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after acquiring an additional 40,758 shares during the period. Finally, GQG Partners LLC bought a new stake in Chevron during the first quarter worth $1,466,751,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction 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 completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $152.47 on Wednesday. The stock has a market cap of $263.47 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 1.97 and a beta of 0.84. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The stock has a fifty day moving average of $156.12 and a 200-day moving average of $148.34.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.55 earnings per share. Equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron’s payout ratio is 88.03%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CVX shares. Wells Fargo & Company reiterated an “overweight” rating and set a $178.00 price target on shares of Chevron in a report on Friday, August 1st. Evercore ISI restated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Bank of America boosted their target price on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. UBS Group boosted their target price on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Finally, Scotiabank boosted their target price on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $165.40.

About Chevron

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.