Wilkinson Global Asset Management LLC purchased a new position in shares of Chevron Corporation (NYSE:CVX – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,348 shares of the oil and gas company’s stock, valued at approximately $555,000.
A number of other hedge funds also recently bought and sold shares of the stock. Midwest Capital Advisors LLC purchased a new stake in shares of Chevron during the first quarter worth approximately $25,000. Core Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter worth approximately $26,000. Phillip James Consulting Co. purchased a new position in Chevron in the fourth quarter worth approximately $26,000. Basso Capital Management L.P. acquired a new position in Chevron during the 4th quarter worth approximately $27,000. Finally, Karpus Management Inc. acquired a new position in Chevron during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. Wall Street Zen upgraded Chevron from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, TD Cowen lifted their price target on Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Twenty equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $207.48.
Insider Buying and Selling at Chevron
In other Chevron news, Director John B. Hess sold 710,665 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the transaction, the director directly owned 363,711 shares of the company’s stock, valued at approximately $70,596,305.10. This trade represents a 66.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael K. Wirth sold 5,547 shares of Chevron stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares in the company, valued at approximately $4,919,596. This represents a 17.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,196,212 shares of company stock worth $231,819,366 over the last three months. 0.56% of the stock is currently owned by insiders.
Chevron Price Performance
Shares of NYSE CVX opened at $199.99 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The stock has a 50 day moving average of $183.30 and a two-hundred day moving average of $187.01. The stock has a market cap of $395.13 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.61 and a beta of 0.49.
Chevron (NYSE:CVX – Get Free Report) last announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period last year, the firm posted $1.77 earnings per share. On average, research analysts forecast that Chevron Corporation will post 15.86 earnings per share for the current year.
Chevron Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. Chevron’s dividend payout ratio is currently 68.26%.
About Chevron
Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.
Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.
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