Venturi Wealth Management LLC Boosts Stake in Chevron Corporation $CVX

Venturi Wealth Management LLC raised its position in Chevron Corporation (NYSE:CVX) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,489 shares of the oil and gas company’s stock after purchasing an additional 1,005 shares during the quarter. Venturi Wealth Management LLC’s holdings in Chevron were worth $5,511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SGL Investment Advisors Inc. increased its position in shares of Chevron by 1.2% during the second quarter. SGL Investment Advisors Inc. now owns 34,551 shares of the oil and gas company’s stock worth $5,295,000 after acquiring an additional 412 shares during the period. Independent Solutions Wealth Management LLC increased its position in shares of Chevron by 3.5% during the second quarter. Independent Solutions Wealth Management LLC now owns 25,437 shares of the oil and gas company’s stock worth $3,642,000 after acquiring an additional 864 shares during the period. Shell Asset Management Co. increased its position in shares of Chevron by 21.4% during the second quarter. Shell Asset Management Co. now owns 51,115 shares of the oil and gas company’s stock worth $7,319,000 after acquiring an additional 9,002 shares during the period. Godsey & Gibb Inc. increased its position in shares of Chevron by 4.8% during the second quarter. Godsey & Gibb Inc. now owns 132,789 shares of the oil and gas company’s stock worth $19,014,000 after acquiring an additional 6,130 shares during the period. Finally, Solitude Financial Services increased its position in shares of Chevron by 8.2% during the second quarter. Solitude Financial Services now owns 25,325 shares of the oil and gas company’s stock worth $3,626,000 after acquiring an additional 1,913 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction 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 sale, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s 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 $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Chevron Stock Up 0.6%

Chevron stock opened at $154.92 on Wednesday. The business has a fifty day moving average of $156.15 and a two-hundred day moving average of $148.84. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm has a market cap of $267.70 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.99 and a beta of 0.84. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (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 for the quarter, compared to analyst estimates of $44.59 billion. During the same period in the previous year, the company earned $2.55 earnings per share. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. TD Cowen raised their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Melius assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. Finally, Scotiabank reissued a “sector perform” rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $165.15.

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.