14,607 Shares in Chevron Corporation $CVX Purchased by SWS Partners

Key Points

• SWS Partners purchased 14,607 Chevron shares worth approximately $2.42 million during the second quarter, while institutional investors collectively own 72.42% of the company.
• Chevron insiders sold substantial stock recently, including director John Hess’s $19.4 million sale and CEO Michael Wirth’s $1.04 million sale; insiders sold $231.8 million worth of shares over the past three months.
• Chevron reported stronger-than-expected quarterly results, with EPS of $6.06 and revenue of $67.2 billion, while analysts maintain a “Moderate Buy” consensus and an average price target of $207.48. The company also declared a quarterly dividend of $1.78 per share, yielding about 3.6% annually.

SWS Partners purchased a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,607 shares of the oil and gas company's stock, valued at approximately $2,421,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Trifecta Capital Advisors LLC acquired a new stake in shares of Chevron in the second quarter valued at approximately $727,000. Good Steward Wealth Advisors LLC acquired a new position in shares of Chevron during the 2nd quarter worth approximately $324,000. Everett Harris & Co. CA acquired a new position in shares of Chevron during the 2nd quarter worth approximately $88,074,000. Summit Global Investments bought a new stake in Chevron in the 2nd quarter valued at $3,117,000. Finally, Stack Financial Management Inc bought a new stake in Chevron in the 2nd quarter valued at $43,660,000. Institutional investors own 72.42% of the company's stock.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 100,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the transaction, the director directly owned 178,045 shares of the company's stock, valued at approximately $34,587,021.70. This trade represents a 35.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael K. Wirth sold 5,547 shares of Chevron stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the completion of the sale, the chief executive officer owned 26,308 shares of the company's stock, valued at $4,919,596. This trade represents a 17.41% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,196,212 shares of company stock valued at $231,819,366. 0.56% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CVX shares. BNP Paribas Exane raised Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price target for the company in a report on Friday, April 17th. Wall Street Zen upgraded shares of Chevron from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings raised shares of Chevron from a "hold (c)" rating to a "buy (b)" rating in a research report on Tuesday. Scotiabank raised their target price on shares of Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $216.00 target price on shares of Chevron in a report on Friday, July 10th. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Chevron presently has a consensus rating of "Moderate Buy" and an average target price of $207.48.

Chevron Price Performance

Shares of NYSE CVX opened at $199.99 on Friday. The firm has a market cap of $395.13 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49. The business's 50 day moving average is $183.30 and its 200-day moving average is $186.88. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. During the same period in the previous year, the company posted $1.77 EPS. The firm's quarterly revenue was up 57.4% on a year-over-year basis. Equities research analysts predict that Chevron Corporation will post 15.86 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. Chevron's dividend payout ratio (DPR) is currently 68.26%.

About Chevron

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.

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