Wellington Capital Management Inc. Purchases New Shares in Chevron Corporation $CVX

Wellington Capital Management Inc. acquired a new stake in shares of Chevron Corporation (NYSE:CVX) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 4,917 shares of the oil and gas company’s stock, valued at approximately $704,000. Chevron accounts for about 1.0% of Wellington Capital Management Inc.’s investment portfolio, making the stock its 26th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Ethic Inc. boosted its position in Chevron by 23.3% during the 1st quarter. Ethic Inc. now owns 27,929 shares of the oil and gas company’s stock valued at $4,706,000 after acquiring an additional 5,283 shares in the last quarter. Tocqueville Asset Management L.P. raised its position in shares of Chevron by 0.5% in the 1st quarter. Tocqueville Asset Management L.P. now owns 228,238 shares of the oil and gas company’s stock worth $38,182,000 after acquiring an additional 1,076 shares in the last quarter. Forvis Mazars Wealth Advisors LLC grew its stake in Chevron by 5.0% in the first quarter. Forvis Mazars Wealth Advisors LLC now owns 49,351 shares of the oil and gas company’s stock worth $8,256,000 after purchasing an additional 2,349 shares during the period. Weik Capital Management raised its holdings in Chevron by 0.7% in the first quarter. Weik Capital Management now owns 13,905 shares of the oil and gas company’s stock worth $2,326,000 after purchasing an additional 95 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT raised its holdings in Chevron by 27.4% in the first quarter. Alliance Wealth Advisors LLC UT now owns 3,518 shares of the oil and gas company’s stock worth $588,000 after purchasing an additional 757 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CVX shares. Raymond James Financial restated an “outperform” rating and set a $160.00 target price (down previously from $170.00) on shares of Chevron in a report on Friday, October 17th. Barclays dropped their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Hsbc Global Res upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Scotiabank raised their target price on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Finally, Zacks Research cut Chevron from a “hold” rating to a “strong sell” rating in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $166.00.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the transaction, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. This trade represents a 19.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is owned by corporate insiders.

Chevron Trading Down 0.5%

Shares of NYSE:CVX opened at $149.95 on Friday. The stock has a market cap of $301.93 billion, a PE ratio of 21.09, a P/E/G ratio of 8.91 and a beta of 0.68. The business has a 50 day moving average of $152.74 and a 200-day moving average of $152.08. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The firm had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same period in the prior year, the firm posted $2.48 EPS. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. The ex-dividend date 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.