ZWJ Investment Counsel Inc. Has $36.63 Million Stake in Chevron Corporation $CVX

ZWJ Investment Counsel Inc. grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 6.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 255,789 shares of the oil and gas company’s stock after acquiring an additional 14,912 shares during the quarter. Chevron accounts for approximately 1.4% of ZWJ Investment Counsel Inc.’s investment portfolio, making the stock its 29th largest position. ZWJ Investment Counsel Inc.’s holdings in Chevron were worth $36,626,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CVX. Harvest Fund Management Co. Ltd raised its stake 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 worth $25,000 after acquiring an additional 122 shares in the last quarter. Elequin Capital LP acquired a new position in shares of Chevron in the first quarter valued at approximately $31,000. Cloud Capital Management LLC acquired a new position in shares of Chevron in the first quarter valued at approximately $39,000. Investment Management Corp VA ADV increased its stake in shares of Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 149 shares during the period. Finally, Cooksen Wealth LLC acquired a new position in shares of Chevron in the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Melius Research assumed coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. UBS Group upped their price objective on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research note on Saturday, September 27th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Finally, Morgan Stanley assumed coverage on Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective for the company. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $165.05.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of the 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 directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The transaction was disclosed in a filing 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 stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Shares of CVX stock opened at $153.59 on Friday. The business’s 50 day simple moving average is $156.23 and its 200 day simple moving average is $149.09. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The stock has a market capitalization of $265.40 billion, a PE ratio of 19.77, a PEG ratio of 1.98 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 (NYSE:CVX) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the prior year, the business posted $2.55 earnings per share. The firm’s revenue was down 12.4% on a year-over-year basis. As a group, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

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

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.