Steward Partners Investment Advisory LLC Raises Stake in Chevron Corporation $CVX

Steward Partners Investment Advisory LLC lifted its stake in Chevron Corporation (NYSE:CVX) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 248,624 shares of the oil and gas company’s stock after acquiring an additional 1,305 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Chevron were worth $35,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd grew its holdings in 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 purchasing an additional 122 shares during the period. Elequin Capital LP acquired a new position in Chevron in the 1st quarter valued at $31,000. Quaker Wealth Management LLC lifted its holdings in Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares in the last quarter. IMG Wealth Management Inc. grew its stake in Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 91 shares in the last quarter. Finally, GFG Capital LLC acquired a new stake in shares of Chevron in the second quarter valued at approximately $42,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $149.93 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The company has a market cap of $301.89 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The firm has a 50 day moving average of $154.83 and a 200-day moving average of $150.95.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.48 EPS. As a group, equities analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be issued a dividend of $1.71 per share. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. Chevron’s payout ratio is presently 96.20%.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated 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 directly owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. TD Cowen raised their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Melius Research initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Evercore ISI reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Melius assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average price target of $166.55.

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.