Wealth Management Partners LLC Buys 139 Shares of Chevron Corporation $CVX

Wealth Management Partners LLC lifted its stake in Chevron Corporation (NYSE:CVX) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,602 shares of the oil and gas company’s stock after purchasing an additional 139 shares during the period. Wealth Management Partners LLC’s holdings in Chevron were worth $2,152,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CVX. Bank Pictet & Cie Europe AG grew its holdings in shares of Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock worth $5,212,000 after purchasing an additional 2,641 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of Chevron by 84.5% in the fourth quarter. Two Sigma Investments LP now owns 35,171 shares of the oil and gas company’s stock worth $5,094,000 after purchasing an additional 16,104 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Chevron in the fourth quarter worth about $40,000. Retirement Planning Group LLC NY bought a new position in shares of Chevron in the fourth quarter worth about $258,000. Finally, North Star Asset Management Inc. lifted its stake in Chevron by 9.6% in the fourth quarter. North Star Asset Management Inc. now owns 12,967 shares of the oil and gas company’s stock worth $1,878,000 after acquiring an additional 1,140 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Shares of Chevron stock opened at $156.11 on Friday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a 50 day moving average price of $155.24 and a 200 day moving average price of $148.99. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $269.76 billion, a P/E ratio of 20.09, a PEG ratio of 1.96 and a beta of 0.90.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the company earned $2.55 EPS. Chevron’s quarterly revenue was down 12.4% on a year-over-year basis. Sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio is 88.03%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVX. Mizuho lowered their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. UBS Group upped their price objective on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Morgan Stanley began coverage on shares of Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective for the company. Finally, TD Cowen upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $165.05.

Chevron Company 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.