Integrated Wealth Concepts LLC Increases Position in Chevron Corporation $CVX

Integrated Wealth Concepts LLC increased its holdings in Chevron Corporation (NYSE:CVX) by 3.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 125,742 shares of the oil and gas company’s stock after purchasing an additional 3,783 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Chevron were worth $19,527,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVX. Decker Retirement Planning Inc. acquired a new stake in Chevron in the 3rd quarter valued at $34,000. Vermillion & White Wealth Management Group LLC lifted its holdings in Chevron by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 118 shares in the last quarter. Marquette Asset Management LLC acquired a new stake in shares of Chevron in the third quarter valued at about $41,000. Barnes Dennig Private Wealth Management LLC raised its position in shares of Chevron by 306.1% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 202 shares during the last quarter. Finally, Traub Capital Management LLC acquired a new position in shares of Chevron during the 2nd quarter worth about $46,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Alana K. Knowles sold 2,408 shares of Chevron stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $183.28, for a total transaction of $441,338.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider R. Hewitt Pate sold 47,200 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $192.12, for a total transaction of $9,068,064.00. Following the transaction, the insider directly owned 8,558 shares in the company, valued at approximately $1,644,162.96. The trade was a 84.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,099,397 shares of company stock worth $196,196,468. 0.20% of the stock is currently owned by company insiders.

Chevron Trading Down 0.0%

CVX opened at $196.95 on Monday. The firm has a market capitalization of $393.00 billion, a price-to-earnings ratio of 29.57, a price-to-earnings-growth ratio of 1.82 and a beta of 0.67. The company’s 50 day simple moving average is $177.33 and its two-hundred day simple moving average is $162.07. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $198.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The business had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. During the same period in the prior year, the business earned $2.06 earnings per share. The business’s revenue was down 10.2% compared to the same quarter last year. Analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, February 17th. This is an increase from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio (DPR) is currently 106.91%.

Analysts Set New Price Targets

Several research firms recently issued reports on CVX. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a report on Wednesday, January 21st. Melius Research raised Chevron from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a report on Tuesday, February 17th. Morgan Stanley decreased their target price on Chevron from $180.00 to $174.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. TD Cowen lifted their price target on Chevron from $160.00 to $168.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Finally, Wells Fargo & Company boosted their price target on Chevron from $196.00 to $204.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Hold” and an average target price of $182.05.

Chevron Company 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.