Fairvoy Private Wealth LLC Grows Position in Chevron Corporation $CVX

Fairvoy Private Wealth LLC lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,521 shares of the oil and gas company’s stock after purchasing an additional 128 shares during the quarter. Fairvoy Private Wealth LLC’s holdings in Chevron were worth $934,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC boosted its holdings in Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after acquiring an additional 83,702,101 shares during the last quarter. GQG Partners LLC acquired a new position in Chevron in the first quarter valued at $1,466,751,000. Nuveen LLC acquired a new position in Chevron in the first quarter valued at $1,362,232,000. Charles Schwab Investment Management Inc. boosted its holdings in Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after acquiring an additional 1,574,464 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Chevron by 141.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after acquiring an additional 1,107,628 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.1%

Shares of NYSE CVX opened at $153.59 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. 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 Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock’s 50-day simple moving average is $156.23 and its 200-day simple moving average is $149.09.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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. The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.55 earnings per share. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron’s payout ratio is presently 88.03%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CVX shares. Mizuho reduced their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Morgan Stanley started coverage on Chevron in a report on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price on the stock. Wells Fargo & Company restated an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Barclays restated an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Finally, Melius started coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective on the stock. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $165.05.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company’s stock, valued at approximately $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 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.