KW Wealth Management LLC Buys Shares of 3,604 Chevron Corporation $CVX

KW Wealth Management LLC purchased a new position in Chevron Corporation (NYSE:CVX) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 3,604 shares of the oil and gas company’s stock, valued at approximately $560,000. Chevron accounts for approximately 1.0% of KW Wealth Management LLC’s investment portfolio, making the stock its 29th biggest position.

Other large investors also recently modified their holdings of the company. Coastwise Capital Group LLC grew its position in Chevron by 1.4% in the 3rd quarter. Coastwise Capital Group LLC now owns 8,625 shares of the oil and gas company’s stock valued at $1,339,000 after buying an additional 116 shares in the last quarter. Permanent Capital Management LP acquired a new stake in shares of Chevron in the 3rd quarter worth approximately $552,000. Everpar Advisors LLC boosted its holdings in shares of Chevron by 8.5% in the third quarter. Everpar Advisors LLC now owns 12,812 shares of the oil and gas company’s stock valued at $1,990,000 after acquiring an additional 999 shares in the last quarter. Cahaba Wealth Management Inc. acquired a new position in shares of Chevron during the third quarter valued at approximately $303,000. Finally, Perigon Wealth Management LLC increased its stake in shares of Chevron by 19.3% during the third quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company’s stock valued at $11,406,000 after acquiring an additional 11,875 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CVX shares. HSBC set a $169.00 target price on Chevron and gave the stock a “buy” rating in a research report on Monday, December 1st. Scotiabank raised their target price on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Raymond James Financial reiterated an “outperform” rating and issued a $160.00 price target (down from $170.00) on shares of Chevron in a research report on Friday, October 17th. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Chevron has an average rating of “Hold” and a consensus target price of $166.00.

Chevron Price Performance

NYSE CVX opened at $150.95 on Tuesday. The stock’s 50-day moving average price is $152.04 and its two-hundred day moving average price is $152.92. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The company has a market cap of $303.93 billion, a PE ratio of 21.23, a PEG ratio of 9.00 and a beta of 0.68. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The company had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same period last year, the company posted $2.48 earnings per share. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s payout ratio is 96.20%.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.