Quadrant Private Wealth Management LLC Purchases 6,569 Shares of Chevron Corporation $CVX

Quadrant Private Wealth Management LLC grew its holdings in Chevron Corporation (NYSE:CVX) by 34.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 25,405 shares of the oil and gas company’s stock after acquiring an additional 6,569 shares during the quarter. Quadrant Private Wealth Management LLC’s holdings in Chevron were worth $3,638,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CVX. Kinsale Capital Group Inc. boosted its stake in Chevron by 12.8% during the 2nd quarter. Kinsale Capital Group Inc. now owns 44,457 shares of the oil and gas company’s stock valued at $6,366,000 after purchasing an additional 5,038 shares during the period. Chancellor Financial Group WB LP lifted its holdings in shares of Chevron by 14.4% during the second quarter. Chancellor Financial Group WB LP now owns 4,870 shares of the oil and gas company’s stock worth $697,000 after buying an additional 613 shares during the last quarter. Nvwm LLC boosted its position in shares of Chevron by 714.1% in the second quarter. Nvwm LLC now owns 2,939 shares of the oil and gas company’s stock valued at $421,000 after acquiring an additional 2,578 shares during the period. Walkner Condon Financial Advisors LLC grew its stake in shares of Chevron by 23.9% in the second quarter. Walkner Condon Financial Advisors LLC now owns 1,860 shares of the oil and gas company’s stock worth $266,000 after acquiring an additional 359 shares during the last quarter. Finally, S&T Bank PA grew its stake in shares of Chevron by 3.7% in the second quarter. S&T Bank PA now owns 2,077 shares of the oil and gas company’s stock worth $297,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $155.10 on Friday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. 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 firm has a market capitalization of $268.01 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. The firm has a 50-day moving average price of $155.55 and a 200 day moving average price of $149.62.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 company had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. During the same period in the previous year, the business earned $2.48 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. Research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

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 paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s payout ratio is currently 96.20%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Melius initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Morgan Stanley upped their price objective on shares of Chevron from $174.00 to $177.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. UBS Group increased their target price on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Finally, TD Cowen upped their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. 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 given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $165.40.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director directly 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 ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Chevron 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.