Maridea Wealth Management LLC purchased a new position in Chevron Corporation (NYSE:CVX – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,063 shares of the oil and gas company’s stock, valued at approximately $1,668,000.
Several other large investors also recently made changes to their positions in the stock. Cornerstone Advisory LLC raised its stake in shares of Chevron by 0.9% in the 1st quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock valued at $1,164,000 after acquiring an additional 52 shares in the last quarter. Compton Financial Group LLC boosted its position in Chevron by 1.9% during the first quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock worth $609,000 after purchasing an additional 56 shares during the period. Quantum Portfolio Management LLC grew its holdings in Chevron by 2.7% during the first quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock valued at $435,000 after purchasing an additional 56 shares during the last quarter. Wealthspire Retirement LLC grew its holdings in Chevron by 0.9% during the first quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company’s stock valued at $1,351,000 after purchasing an additional 56 shares during the last quarter. Finally, D.B. Root & Company LLC grew its holdings in Chevron by 1.0% during the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.
Chevron Price Performance
CVX opened at $199.99 on Friday. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The company’s 50 day simple moving average is $183.30 and its 200-day simple moving average is $186.88. The stock has a market capitalization of $395.13 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 0.61 and a beta of 0.49.
Chevron Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 68.26%.
Insider Buying and Selling at Chevron
In other news, CEO Michael K. Wirth sold 5,547 shares of Chevron stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total value of $1,037,289.00. Following the completion of the sale, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at approximately $4,919,596. This trade represents a 17.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hess sold 100,000 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the sale, the director owned 178,045 shares of the company’s stock, valued at approximately $34,587,021.70. The trade was a 35.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,196,212 shares of company stock valued at $231,819,366 over the last three months. Insiders own 0.56% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on CVX. Mizuho set a $224.00 target price on shares of Chevron in a research report on Monday, August 3rd. Dbs Bank raised Chevron to a “moderate buy” rating in a report on Thursday, August 6th. Wall Street Zen raised Chevron from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. TD Cowen boosted their price objective on Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Finally, Piper Sandler assumed coverage on Chevron in a report on Thursday, July 23rd. They set an “overweight” rating and a $207.00 target price on the stock. Twenty investment 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $207.48.
Read Our Latest Stock Analysis on CVX
Chevron Profile
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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