Chevron Corporation $CVX Shares Bought by Good Life Advisors LLC

Good Life Advisors LLC grew its position in shares of Chevron Corporation (NYSE:CVX) by 12.0% during the second quarter, HoldingsChannel reports. The firm owned 12,838 shares of the oil and gas company’s stock after buying an additional 1,377 shares during the period. Good Life Advisors LLC’s holdings in Chevron were worth $1,838,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Edgestream Partners L.P. lifted its holdings in Chevron by 58.9% in the 1st quarter. Edgestream Partners L.P. now owns 19,412 shares of the oil and gas company’s stock worth $3,247,000 after buying an additional 7,198 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of Chevron by 10.2% during the first quarter. Verdence Capital Advisors LLC now owns 33,431 shares of the oil and gas company’s stock worth $5,593,000 after acquiring an additional 3,095 shares during the last quarter. Graypoint LLC lifted its stake in shares of Chevron by 5.6% in the first quarter. Graypoint LLC now owns 27,109 shares of the oil and gas company’s stock worth $4,535,000 after acquiring an additional 1,435 shares in the last quarter. Concord Wealth Partners lifted its stake in shares of Chevron by 6.1% in the first quarter. Concord Wealth Partners now owns 8,268 shares of the oil and gas company’s stock worth $1,383,000 after acquiring an additional 478 shares in the last quarter. Finally, Woodward Diversified Capital LLC boosted its holdings in Chevron by 0.5% in the first quarter. Woodward Diversified Capital LLC now owns 30,957 shares of the oil and gas company’s stock valued at $5,179,000 after purchasing an additional 160 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CVX. Wells Fargo & Company initiated coverage on Chevron in a research report on Friday, October 17th. They issued an “overweight” rating and a $190.00 target price on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Morgan Stanley increased their price objective on shares of Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group boosted their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Finally, Melius Research assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron has an average rating of “Hold” and a consensus target price of $166.25.

Chevron Stock Up 1.4%

Shares of NYSE:CVX opened at $155.42 on Friday. The company’s fifty day moving average is $155.19 and its two-hundred day moving average is $150.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The stock has a market capitalization of $312.95 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.48 EPS. Equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business 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 of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio is 96.20%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

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.