Chevron Corporation $CVX Shares Acquired by Ashton Thomas Private Wealth LLC

Key Points

• Ashton Thomas Private Wealth LLC increased its stake in Chevron by 16.4% in Q1, now owning 107,181 shares valued at approximately $17.93 million.
• Chevron's quarterly dividend of $1.71 will be paid on September 10th, representing an annualized yield of 4.4%.
• Insider transactions included Director John B. Hess selling 375,000 shares, reducing his ownership by 21.09% and raising a total of $59.36 million.

Ashton Thomas Private Wealth LLC grew its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 16.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,181 shares of the oil and gas company's stock after purchasing an additional 15,125 shares during the quarter. Chevron makes up about 0.7% of Ashton Thomas Private Wealth LLC's investment portfolio, making the stock its 27th largest position. Ashton Thomas Private Wealth LLC's holdings in Chevron were worth $17,930,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CVX. GDS Wealth Management boosted its holdings in shares of Chevron by 4.4% in the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company's stock valued at $285,000 after purchasing an additional 72 shares during the last quarter. AIMZ Investment Advisors LLC boosted its holdings in shares of 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 valued at $298,000 after purchasing an additional 72 shares during the last quarter. Clayton Financial Group LLC boosted its holdings in shares of 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 valued at $285,000 after purchasing an additional 75 shares during the last quarter. Gill Capital Partners LLC boosted its holdings in shares of Chevron by 4.9% in the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company's stock valued at $271,000 after purchasing an additional 75 shares during the last quarter. Finally, Cordatus Wealth Management LLC boosted its holdings in shares of Chevron by 0.4% in the 1st quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company's stock valued at $3,299,000 after purchasing an additional 76 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company's stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated 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 $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

Chevron Stock Up 0.4%

Shares of CVX stock traded up $0.64 during mid-day trading on Tuesday, reaching $154.64. 7,765,594 shares of the company were exchanged, compared to its average volume of 7,902,908. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market capitalization of $267.22 billion, a P/E ratio of 19.90, a P/E/G ratio of 2.28 and a beta of 0.90. The business's 50 day simple moving average is $153.91 and its 200 day simple moving average is $148.78.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same period last year, the business earned $2.55 EPS. The firm's revenue for the quarter was down 12.4% compared to the same quarter last year. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given 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 4.4%. Chevron's dividend payout ratio (DPR) is presently 88.03%.

Analyst Ratings Changes

Several research firms recently weighed in on CVX. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Mizuho reduced their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. UBS Group increased their target price on Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Barclays reissued an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, Melius started coverage on Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target for the company. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $163.95.

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.