Chevron Corporation $CVX Stock Position Raised by Wealth Alliance LLC

Wealth Alliance LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,830 shares of the oil and gas company’s stock after buying an additional 656 shares during the quarter. Wealth Alliance LLC’s holdings in Chevron were worth $3,269,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Harvest Fund Management Co. Ltd raised its holdings in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 122 shares in the last quarter. Elequin Capital LP acquired a new position in Chevron during the first quarter valued at approximately $31,000. Quaker Wealth Management LLC lifted its stake in shares of Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after buying an additional 439 shares during the last quarter. IMG Wealth Management Inc. boosted its holdings in shares of Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after buying an additional 91 shares during the period. Finally, Investment Management Corp VA ADV raised its holdings in Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 149 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction that occurred 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 directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% 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 Trading Up 0.3%

Shares of CVX opened at $156.05 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The stock has a market cap of $269.65 billion, a PE ratio of 20.08, a PEG ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a 50 day simple moving average of $155.33 and a 200-day simple moving average of $150.04.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. During the same period in the prior year, the business posted $2.48 earnings per share. The business’s revenue was down 1.9% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Analyst Upgrades and Downgrades

CVX has been the topic of several research analyst reports. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a research report on Saturday. Bank of America increased their price objective on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Piper Sandler reduced their price target on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a report on Monday. Finally, Morgan Stanley boosted their price objective on shares of Chevron from $174.00 to $177.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Chevron presently has an average rating of “Hold” and an average price target of $165.45.

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.