Commonwealth Financial Services LLC Buys 135 Shares of Chevron Corporation $CVX

Commonwealth Financial Services LLC raised its stake in Chevron Corporation (NYSE:CVX) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,559 shares of the oil and gas company’s stock after acquiring an additional 135 shares during the quarter. Commonwealth Financial Services LLC’s holdings in Chevron were worth $653,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CVX. GAMMA Investing LLC raised its holdings in Chevron by 27.3% in the 1st quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock valued at $5,408,000 after acquiring an additional 6,928 shares during the period. West Branch Capital LLC raised its holdings in Chevron by 30.6% in the 1st quarter. West Branch Capital LLC now owns 12,653 shares of the oil and gas company’s stock valued at $2,117,000 after acquiring an additional 2,964 shares during the period. Elevation Point Wealth Partners LLC raised its holdings in Chevron by 3.4% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 22,197 shares of the oil and gas company’s stock valued at $3,713,000 after acquiring an additional 734 shares during the period. CVA Family Office LLC increased its holdings in shares of Chevron by 2.2% during the first quarter. CVA Family Office LLC now owns 9,496 shares of the oil and gas company’s stock worth $1,589,000 after purchasing an additional 203 shares during the period. Finally, Goldstone Financial Group LLC raised its position in shares of Chevron by 69.7% in the first quarter. Goldstone Financial Group LLC now owns 8,444 shares of the oil and gas company’s stock valued at $1,413,000 after buying an additional 3,467 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Bank of America lifted their price target on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Piper Sandler lifted their price target on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Scotiabank lifted their price target on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Thursday. Wells Fargo & Company reiterated an “overweight” rating and issued a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Finally, Melius Research assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Chevron presently has an average rating of “Hold” and an average price target of $165.40.

Insider Buying and Selling at Chevron

In other Chevron 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 sale, 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 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 business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Chevron Price Performance

Shares of CVX stock opened at $149.11 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market cap of $257.66 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.92 and a beta of 0.84. The business has a fifty day simple moving average of $156.10 and a 200 day simple moving average of $148.54.

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, topping the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.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 prior year, the company earned $2.55 EPS. Chevron’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio is currently 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.