Chevron Corporation (CVX) Shares Bought by Ibex Wealth Advisors
Ibex Wealth Advisors increased its stake in shares of Chevron Corporation (NYSE:CVX) by 18.5% during the first quarter, Holdings Channel reports. The firm owned 38,750 shares of the oil and gas company’s stock after buying an additional 6,036 shares during the period. Chevron Corporation comprises about 2.6% of Ibex Wealth Advisors’ investment portfolio, making the stock its 10th largest position. Ibex Wealth Advisors’ holdings in Chevron Corporation were worth $4,210,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. New Capital Management LP boosted its position in shares of Chevron Corporation by 0.3% in the first quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 4 shares during the period. Haverford Financial Services Inc. raised its position in shares of Chevron Corporation by 0.7% in the first quarter. Haverford Financial Services Inc. now owns 2,303 shares of the oil and gas company’s stock valued at $247,000 after buying an additional 16 shares in the last quarter. Orgel Wealth Management LLC raised its position in shares of Chevron Corporation by 0.8% in the first quarter. Orgel Wealth Management LLC now owns 2,346 shares of the oil and gas company’s stock valued at $252,000 after buying an additional 18 shares in the last quarter. Westbourne Investment Advisors Inc. raised its position in shares of Chevron Corporation by 0.4% in the first quarter. Westbourne Investment Advisors Inc. now owns 7,435 shares of the oil and gas company’s stock valued at $798,000 after buying an additional 33 shares in the last quarter. Finally, Court Place Advisors LLC raised its position in shares of Chevron Corporation by 0.6% in the first quarter. Court Place Advisors LLC now owns 5,968 shares of the oil and gas company’s stock valued at $641,000 after buying an additional 36 shares in the last quarter. 62.75% of the stock is owned by institutional investors and hedge funds.
Chevron Corporation (CVX) traded down 0.1592% on Wednesday, reaching $107.3189. The company had a trading volume of 1,215,836 shares. The stock has a 50 day moving average price of $106.24 and a 200 day moving average price of $107.52. The stock has a market capitalization of $203.37 billion, a PE ratio of 34.7986 and a beta of 1.23. Chevron Corporation has a 52-week low of $97.53 and a 52-week high of $119.00. Chevron Corporation also was the recipient of unusually large options trading activity on Tuesday. Stock traders bought 35,638 call options on the stock. This is an increase of 544% compared to the typical volume of 5,534 call options.
Chevron Corporation (NYSE:CVX) last released its earnings results on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The firm had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. Chevron Corporation’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.78) EPS. Analysts expect that Chevron Corporation will post $3.80 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 18th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $4.32 annualized dividend and a yield of 3.98%. Chevron Corporation’s payout ratio is currently 140.26%.
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Several equities analysts recently weighed in on CVX shares. BidaskClub lowered Chevron Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Scotiabank set a $114.00 price target on Chevron Corporation and gave the company a “buy” rating in a research note on Monday, May 1st. Wells Fargo & Company lowered Chevron Corporation to an “outperform” rating and cut their price target for the company from $124.00 to $102.00 in a research note on Monday, July 17th. Vetr upgraded Chevron Corporation from a “buy” rating to a “strong-buy” rating and set a $120.37 price target for the company in a research note on Thursday, June 15th. Finally, Exane BNP Paribas lowered Chevron Corporation from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $105.00 to $100.00 in a research note on Friday, May 26th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Chevron Corporation has an average rating of “Buy” and a consensus target price of $116.80.
In other Chevron Corporation news, insider James William Johnson sold 31,000 shares of Chevron Corporation stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total value of $3,431,080.00. Following the completion of the sale, the insider now directly owns 11,000 shares of the company’s stock, valued at approximately $1,217,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the sale, the chief financial officer now directly owns 43,838 shares of the company’s stock, valued at $4,866,018. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.
Chevron Corporation Company Profile
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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