Chemistry Wealth Management LLC Acquires 5,593 Shares of Chevron Corporation $CVX

Key Points

• Chemistry Wealth Management LLC increased its stake in Chevron Corporation by 141.5%, acquiring an additional 5,593 shares during the second quarter, bringing its total holdings to 9,545 shares valued at approximately $1,367,000.
• Chevron reported $1.77 earnings per share (EPS) for the latest quarter, beating analysts' expectations, with revenue of $44.82 billion, despite a year-over-year decline of 12.4%.
• The company announced a quarterly dividend of $1.71 per share, offering an annualized yield of 4.4%, while maintaining a payout ratio of 88.03%.

Chemistry Wealth Management LLC boosted its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 141.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,545 shares of the oil and gas company's stock after purchasing an additional 5,593 shares during the period. Chemistry Wealth Management LLC's holdings in Chevron were worth $1,367,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Greenfield Savings Bank lifted its stake in Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company's stock worth $1,663,000 after purchasing an additional 68 shares during the last quarter. GDS Wealth Management grew its position in Chevron by 4.4% during the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company's stock worth $285,000 after acquiring an additional 72 shares during the last quarter. AIMZ Investment Advisors LLC increased its holdings in Chevron by 4.2% in the 1st quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company's stock worth $298,000 after purchasing an additional 72 shares in the last quarter. Garde Capital Inc. increased its holdings in Chevron by 3.2% in the 2nd quarter. Garde Capital Inc. now owns 2,355 shares of the oil and gas company's stock worth $337,000 after purchasing an additional 72 shares in the last quarter. Finally, Clayton Financial Group LLC increased its holdings in Chevron by 4.6% in the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock worth $285,000 after purchasing an additional 75 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of Chevron stock opened at $157.23 on Monday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market capitalization of $271.69 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.98 and a beta of 0.90. The business has a 50-day simple moving average of $154.67 and a 200 day simple moving average of $148.79. 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 - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company's quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.55 EPS. On average, research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Insider Buying and Selling

In related news, 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 of the company's stock, valued at approximately $188,960. The trade was 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 business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Raymond James Financial reaffirmed an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Bank of America upped their target price on Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Evercore ISI reaffirmed an "outperform" rating and issued a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Morgan Stanley initiated coverage on Chevron in a research report on Monday, August 4th. They set an "overweight" rating and a $174.00 target price for the company. Finally, Melius Research initiated coverage on Chevron in a research report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Chevron has an average rating of "Hold" and an average price target of $164.80.

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.

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