Flywheel Private Wealth LLC Acquires 80 Shares of Chevron Corporation $CVX

Flywheel Private Wealth LLC grew its stake in shares of Chevron Corporation (NYSE:CVX) by 4.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,991 shares of the oil and gas company’s stock after acquiring an additional 80 shares during the period. Flywheel Private Wealth LLC’s holdings in Chevron were worth $285,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Harvest Fund Management Co. Ltd raised its stake in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 122 shares in the last quarter. Elequin Capital LP bought a new stake in shares of Chevron during the first quarter valued at approximately $31,000. IFS Advisors LLC raised its stake in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 116 shares in the last quarter. Cloud Capital Management LLC purchased a new position in Chevron during the first quarter valued at approximately $39,000. Finally, Investment Management Corp VA ADV increased its holdings in Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 149 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CVX shares. UBS Group lifted their price objective on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Barclays reissued an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a report on Friday, July 18th. Scotiabank reaffirmed a “sector perform” rating and issued a $160.00 price target (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Finally, Melius assumed coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $165.05.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Chevron Price Performance

NYSE CVX opened at $160.13 on Friday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The firm’s fifty day simple moving average is $156.04 and its two-hundred day simple moving average is $149.13. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $276.70 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.01 and a beta of 0.90.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS 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 business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the previous year, the firm posted $2.55 earnings per share. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Tuesday, August 19th. Chevron’s payout ratio is presently 88.03%.

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.