Chung Wu Investment Group LLC Has $690,000 Stock Position in Chevron Corporation $CVX

Chung Wu Investment Group LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 66.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,820 shares of the oil and gas company’s stock after purchasing an additional 1,920 shares during the period. Chung Wu Investment Group LLC’s holdings in Chevron were worth $690,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVX. Harvest Fund Management Co. Ltd grew its stake in shares of Chevron by 420.7% in 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 Chevron in the 1st quarter valued at about $31,000. Cloud Capital Management LLC bought a new stake in Chevron in the 1st quarter valued at about $39,000. Investment Management Corp VA ADV grew its position in shares of Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 149 shares in the last quarter. Finally, Cooksen Wealth LLC bought a new position in shares of Chevron during the first quarter worth approximately $43,000. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction 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 completion of the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Mizuho cut their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Bank of America upped their price objective on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Piper Sandler lifted their target price on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research report on Saturday, September 27th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Hold” and a consensus target price of $165.05.

Chevron Stock Up 0.1%

Chevron stock opened at $153.59 on Monday. The firm has a market capitalization of $265.40 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84. The firm’s fifty day moving average price is $156.23 and its two-hundred day moving average price is $148.87. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last announced its quarterly 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. The business had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.55 EPS. On average, equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

About Chevron

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.