Chevron Corporation $CVX Shares Purchased by EP Wealth Advisors LLC

Key Points

• EP Wealth Advisors LLC increased its stake in Chevron Corporation by 14.3%, owning 147,035 shares valued at approximately $24.6 million as of its latest SEC filing.
• Chevron's quarterly earnings report showed an earnings per share of $1.77, surpassing analyst expectations, even though its revenue declined 12.4% year over year.
• The company recently declared a quarterly dividend of $1.71 per share, providing an annualized dividend yield of 4.3% with a payout ratio of 88.03%.

EP Wealth Advisors LLC increased its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,035 shares of the oil and gas company's stock after acquiring an additional 18,415 shares during the quarter. EP Wealth Advisors LLC's holdings in Chevron were worth $24,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. CoreCap Advisors LLC boosted its stake in shares of Chevron by 0.3% during the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock worth $4,091,000 after acquiring an additional 71 shares during the last quarter. GDS Wealth Management boosted its position 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 worth $285,000 after purchasing an additional 72 shares in the last quarter. AIMZ Investment Advisors LLC boosted its position in Chevron by 4.2% in the first quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company's stock valued at $298,000 after buying an additional 72 shares during the last quarter. Clayton Financial Group LLC grew its position in Chevron by 4.6% during the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock valued at $285,000 after buying an additional 75 shares during the period. Finally, Gill Capital Partners LLC raised its position in Chevron by 4.9% during the first quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company's stock worth $271,000 after acquiring an additional 75 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction 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 completion of the transaction, 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. Company insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Piper Sandler raised their price target on Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. TD Cowen increased their target price on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a report on Monday, August 4th. Melius assumed 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. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Finally, Barclays reiterated an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus price target of $163.95.

Chevron Trading Down 2.4%

NYSE:CVX traded down $3.84 during trading hours on Wednesday, hitting $157.99. The stock had a trading volume of 8,523,196 shares, compared to its average volume of 9,294,220. Chevron Corporation has a one year low of $132.04 and a one year 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 business's 50 day moving average is $152.93 and its 200-day moving average is $148.86. The company has a market cap of $273.01 billion, a price-to-earnings ratio of 20.33, a P/E/G ratio of 2.38 and a beta of 0.90.

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

Chevron Announces Dividend

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