Premier Path Wealth Partners LLC Sells 184 Shares of Chevron Corporation $CVX

Premier Path Wealth Partners LLC lessened its position in shares of Chevron Corporation (NYSE:CVX) by 1.4% in the second quarter, Holdings Channel.com reports. The firm owned 12,560 shares of the oil and gas company’s stock after selling 184 shares during the period. Premier Path Wealth Partners LLC’s holdings in Chevron were worth $1,798,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Golden State Wealth Management LLC increased its stake in Chevron by 3.1% in the 1st quarter. Golden State Wealth Management LLC now owns 7,835 shares of the oil and gas company’s stock valued at $1,311,000 after buying an additional 239 shares during the last quarter. Astoria Portfolio Advisors LLC. bought a new stake in Chevron in the first quarter valued at approximately $331,000. Vontobel Holding Ltd. lifted its holdings in Chevron by 17.6% during the 1st quarter. Vontobel Holding Ltd. now owns 133,036 shares of the oil and gas company’s stock valued at $22,256,000 after purchasing an additional 19,919 shares during the last quarter. Rossby Financial LCC boosted its holdings in shares of Chevron by 51.7% during the 1st quarter. Rossby Financial LCC now owns 4,994 shares of the oil and gas company’s stock worth $835,000 after buying an additional 1,701 shares during the period. Finally, Arbor Trust Wealth Advisors LLC grew its position in shares of Chevron by 3.1% in the first quarter. Arbor Trust Wealth Advisors LLC now owns 15,415 shares of the oil and gas company’s stock valued at $2,579,000 after purchasing an additional 457 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In other Chevron news, 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 completion of the sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction that occurred on 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 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 position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $154.92 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The stock has a market cap of $267.69 billion, a PE ratio of 19.94, a PEG ratio of 4.38 and a beta of 0.84. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The business has a 50-day simple moving average of $156.11 and a two-hundred day simple moving average of $148.82.

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

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio is presently 88.03%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wells Fargo & Company initiated coverage on shares of Chevron in a report on Friday, October 17th. They issued an “overweight” rating and a $190.00 price objective for the company. UBS Group boosted their price target on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Bank of America increased their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Piper Sandler upped their price target on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Finally, Melius Research initiated coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. One 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 given a Sell rating to the stock. Based on data from MarketBeat, Chevron has an average rating of “Hold” and an average target price of $165.25.

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.