Chevron Corporation $CVX Shares Bought by Ibex Wealth Advisors

Ibex Wealth Advisors raised its stake in Chevron Corporation (NYSE:CVX) by 5.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 50,398 shares of the oil and gas company’s stock after purchasing an additional 2,758 shares during the period. Ibex Wealth Advisors’ holdings in Chevron were worth $7,217,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CVX. Gateway Wealth Partners LLC acquired a new position in shares of Chevron during the first quarter valued at $210,000. Kathmere Capital Management LLC raised its holdings in shares of Chevron by 97.6% during the first quarter. Kathmere Capital Management LLC now owns 5,451 shares of the oil and gas company’s stock valued at $912,000 after buying an additional 2,692 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Chevron by 5.4% during the first quarter. Stephens Inc. AR now owns 263,290 shares of the oil and gas company’s stock worth $44,046,000 after buying an additional 13,374 shares during the period. Fulton Breakefield Broenniman LLC grew its holdings in Chevron by 2.0% in the 1st quarter. Fulton Breakefield Broenniman LLC now owns 96,265 shares of the oil and gas company’s stock worth $16,104,000 after buying an additional 1,865 shares in the last quarter. Finally, Mason Investment Advisory Services Inc. bought a new position in Chevron in the 1st quarter worth approximately $306,000. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on 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. The trade was a 77.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by corporate insiders.

Chevron Price Performance

CVX stock opened at $155.10 on Monday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a 50-day moving average of $155.55 and a two-hundred day moving average of $149.80. The firm has a market capitalization of $268.01 billion, a PE ratio of 19.96, a P/E/G ratio of 4.40 and a beta of 0.83. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.14. The firm had revenue of $48.17 billion for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $2.48 earnings per share. On average, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is 96.20%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CVX shares. Morgan Stanley increased their price target on Chevron from $174.00 to $177.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Wall Street Zen upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research report on Saturday. Melius started coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Finally, Melius Research began coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $165.45.

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.