Chevron Corporation $CVX Shares Purchased by Abundance Wealth Counselors

Abundance Wealth Counselors raised its holdings in shares of 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 & Exchange Commission. The institutional investor owned 16,168 shares of the oil and gas company’s stock after buying an additional 154 shares during the period. Abundance Wealth Counselors’ holdings in Chevron were worth $2,340,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC lifted its position in shares of 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 purchasing an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 purchasing an additional 1,574,464 shares in the last quarter. Invesco Ltd. lifted its position in shares of 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 purchasing an additional 827,851 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 purchasing an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC acquired a new position in shares of Chevron during the first quarter worth $1,466,751,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVX. UBS Group lifted their price target 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 target for the company. Raymond James Financial restated an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Evercore ISI restated an “outperform” rating and issued a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Finally, Melius Research began coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $165.05.

Insider Buying and Selling at Chevron

In other news, 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 completion of the transaction, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Chevron Stock Up 0.1%

CVX stock opened at $153.59 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a fifty day moving average price of $156.23 and a two-hundred day moving average price of $149.09. The firm has a market cap of $265.40 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.98 and a beta of 0.84.

Chevron (NYSE:CVX) last released its 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. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the previous year, the firm earned $2.55 earnings per share. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. Research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend 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%.

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.