West Family Investments Inc. Has $1.29 Million Stock Holdings in Chevron Corporation $CVX

West Family Investments Inc. boosted its holdings in Chevron Corporation (NYSE:CVX) by 68.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,766 shares of the oil and gas company’s stock after acquiring an additional 3,164 shares during the quarter. West Family Investments Inc.’s holdings in Chevron were worth $1,287,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CVX. First PREMIER Bank boosted its position in shares of Chevron by 0.8% in the 2nd quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company’s stock worth $1,070,000 after purchasing an additional 50 shares during the last quarter. Vanguard Capital Wealth Advisors raised its stake in Chevron by 1.8% during the second quarter. Vanguard Capital Wealth Advisors now owns 2,818 shares of the oil and gas company’s stock worth $467,000 after acquiring an additional 50 shares in the last quarter. Cornerstone Advisory LLC grew its stake in shares of Chevron by 0.9% during the first quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock worth $1,164,000 after buying an additional 52 shares during the last quarter. Compton Financial Group LLC increased its holdings in Chevron by 1.9% in the 1st quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock worth $609,000 after purchasing an additional 56 shares in the last quarter. Finally, Quantum Portfolio Management LLC boosted its position in Chevron by 2.7% during the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock worth $435,000 after buying an additional 56 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVX. Wells Fargo & Company boosted their target price on Chevron from $226.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. Mizuho set a $224.00 price objective on shares of Chevron in a report on Monday, August 3rd. Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Thursday, July 2nd. Piper Sandler boosted their price target on shares of Chevron from $207.00 to $243.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Finally, Weiss Ratings upgraded Chevron from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Twenty research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $211.35.

Chevron Trading Up 0.7%

Shares of NYSE:CVX traded up $1.49 during trading on Tuesday, reaching $210.09. The company’s stock had a trading volume of 7,699,366 shares, compared to its average volume of 10,633,124. The stock has a market capitalization of $415.08 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 0.61 and a beta of 0.50. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The firm’s 50 day simple moving average is $192.79 and its two-hundred day simple moving average is $190.20. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71.

Chevron (NYSE:CVX) last announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.77 earnings per share. On average, research analysts predict that Chevron Corporation will post 16.51 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.4%. Chevron’s dividend payout ratio is presently 68.26%.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 710,665 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.10, for a total value of $137,940,076.50. Following the completion of the sale, the director owned 363,711 shares in the company, valued at approximately $70,596,305.10. The trade was a 66.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the transaction, the chief executive officer owned 26,308 shares in the company, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,152,582 shares of company stock worth $225,853,661. Corporate insiders own 0.56% of the company’s stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron plans to double the number of oil rigs it operates in Venezuela as part of a five-year growth strategy. The expansion is intended to lift production in the country toward approximately 600,000 barrels per day, adding potentially significant upstream growth. Chevron to double oil rigs in Venezuela as part of growth plan
• Positive Sentiment: The company’s planned investment of more than $7 billion over five years, including additional acreage in Venezuela’s Carabobo region, gives CVX a new production-growth avenue. Strong cash flow and expected Hess-related synergies could provide financial flexibility for the program. Chevron doubles down on Venezuela with a $7 billion oil bet
• Positive Sentiment: At the Barclays Energy-Power Conference, management highlighted the Venezuela expansion and broader production-growth plans. Analysts and market commentary continue to point to elevated energy prices, solid earnings and Chevron’s integrated business model as support for the shares. Chevron Barclays conference transcript
• Neutral Sentiment: Chevron’s stock has risen sharply and is close to a record high. BMO remains constructive on the company, but investors must determine whether oil prices, earnings growth and operational improvements can justify further gains at current levels. Chevron’s record run isn’t over yet, BMO says
• Negative Sentiment: The Venezuela strategy carries execution, political and sanctions-related risks. The large capital commitment also raises the stakes if production targets are delayed or oil prices weaken, while the recent rally leaves less room for disappointing results. Chevron stock is near a record high

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.