Aprio Wealth Management LLC Purchases 2,138 Shares of Chevron Corporation $CVX

Key Points

• Aprio Wealth Management LLC increased its stake in Chevron Corporation by 42.4%, purchasing an additional 2,138 shares, raising its total holdings to 7,185 shares valued at approximately $1.2 million.
• Chevron reported an earnings per share (EPS) of $1.77 for the last quarter, surpassing analysts' expectations of $1.58, but experienced a 12.4% decline in revenue year-over-year.
• The company announced a quarterly dividend of $1.71, representing a 4.2% yield, with a payout ratio of 88.03%, scheduled for distribution on September 10th.

Aprio Wealth Management LLC increased its stake in Chevron Corporation (NYSE:CVX - Free Report) by 42.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,185 shares of the oil and gas company's stock after purchasing an additional 2,138 shares during the period. Aprio Wealth Management LLC's holdings in Chevron were worth $1,202,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd boosted its stake in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after buying an additional 122 shares in the last quarter. Elequin Capital LP purchased a new stake in Chevron in the first quarter worth approximately $31,000. 10Elms LLP purchased a new stake in Chevron in the fourth quarter worth approximately $29,000. IFS Advisors LLC boosted its stake in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after buying an additional 116 shares in the last quarter. Finally, Cloud Capital Management LLC purchased a new stake in Chevron in the first quarter worth approximately $39,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Down 0.0%

Shares of CVX traded down $0.06 during mid-day trading on Thursday, hitting $158.00. 7,240,482 shares of the company's stock traded hands, compared to its average volume of 7,467,736. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a market capitalization of $273.03 billion, a P/E ratio of 20.34, a PEG ratio of 2.34 and a beta of 0.90. The business's 50-day moving average price is $153.49 and its 200-day moving average price is $148.94.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (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 firm had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. During the same period in the previous year, the firm earned $2.55 earnings per share. The business's revenue was down 12.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. Chevron's payout ratio is 88.03%.

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of the business'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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president owned 1,181 shares in the company, valued at $188,960. This represents 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 insiders.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. TD Cowen upped their target price on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research note on Monday, August 4th. Wells Fargo & Company restated an "overweight" rating and set a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Melius started coverage on Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price target on the stock. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and lowered their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, Morgan Stanley started coverage on Chevron in a research report 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, eight have assigned 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 an average target price of $163.95.

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.