Chevron Corporation $CVX Stake Boosted by Total Clarity Wealth Management Inc.

Total Clarity Wealth Management Inc. increased its stake in Chevron Corporation (NYSE:CVX) by 7.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,708 shares of the oil and gas company’s stock after purchasing an additional 191 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Chevron were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Vest Financial LLC increased its stake in Chevron by 14.1% in the 2nd quarter. Vest Financial LLC now owns 438,175 shares of the oil and gas company’s stock worth $62,742,000 after purchasing an additional 54,063 shares in the last quarter. M.E. Allison & CO. Inc. increased its stake in Chevron by 12.9% in the 2nd quarter. M.E. Allison & CO. Inc. now owns 11,137 shares of the oil and gas company’s stock worth $1,595,000 after purchasing an additional 1,276 shares in the last quarter. Lion Street Advisors LLC increased its stake in Chevron by 5.6% in the 2nd quarter. Lion Street Advisors LLC now owns 9,706 shares of the oil and gas company’s stock worth $1,390,000 after purchasing an additional 517 shares in the last quarter. Pegasus Asset Management Inc. increased its stake in Chevron by 2.9% in the 2nd quarter. Pegasus Asset Management Inc. now owns 30,764 shares of the oil and gas company’s stock worth $4,405,000 after purchasing an additional 864 shares in the last quarter. Finally, MGO One Seven LLC increased its stake in Chevron by 13.0% in the 2nd quarter. MGO One Seven LLC now owns 29,077 shares of the oil and gas company’s stock worth $4,164,000 after purchasing an additional 3,353 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In other news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction 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. The trade was a 21.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alana K. Knowles sold 3,978 shares of the business’s 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 completion of the sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Chevron Stock Up 2.0%

Shares of Chevron stock opened at $151.86 on Tuesday. The firm has a market cap of $262.42 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 1.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The stock has a 50-day simple moving average of $156.12 and a 200-day simple moving average of $148.31.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.55 EPS. On average, equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron’s payout ratio is currently 88.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CVX shares. Morgan Stanley started coverage on Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective for the company. Melius started coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. Melius Research started coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. TD Cowen raised their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Finally, Bank of America raised their price objective on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $165.40.

Chevron Company Profile

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.