Chevron Corporation $CVX Shares Acquired by Strata Wealth Advisors LLC

Key Points

• Strata Wealth Advisors LLC increased its holdings in Chevron Corporation by 76.9% during the second quarter, bringing their total to 6,852 shares valued at approximately $981,000.
• Institutional investors own 72.42% of Chevron's stock, with notable changes including Kingstone Capital Partners' massive stake increase by over 652,139.5%.
• Chevron reported earnings of $1.77 per share for its last quarter, exceeding estimates, despite a 12.4% revenue decline compared to the prior year.

Strata Wealth Advisors LLC grew its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 76.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,852 shares of the oil and gas company's stock after acquiring an additional 2,979 shares during the period. Strata Wealth Advisors LLC's holdings in Chevron were worth $981,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Kingstone Capital Partners Texas LLC grew its stake in shares of Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company's stock worth $13,214,757,000 after acquiring an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock worth $5,592,263,000 after purchasing an additional 1,574,464 shares during the last quarter. Invesco Ltd. lifted its position in shares of Chevron by 5.5% during the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company's stock worth $2,652,437,000 after purchasing an additional 827,851 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Chevron by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company's stock worth $2,054,513,000 after purchasing an additional 40,758 shares during the last quarter. Finally, GQG Partners LLC purchased a new stake in shares of Chevron during the 1st quarter worth $1,466,751,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CVX. Evercore ISI reaffirmed an "outperform" rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Wells Fargo & Company began coverage on shares of Chevron in a research report on Friday, October 17th. They issued an "overweight" rating and a $190.00 price target for the company. Melius Research began coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price for the company. Morgan Stanley began coverage on shares of Chevron in a report on Monday, August 4th. They issued an "overweight" rating and a $174.00 target price for the company. Finally, Barclays reduced their target price on shares of Chevron from $160.00 to $158.00 and set an "equal weight" rating for the company in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $165.25.

Insider Activity

In other news, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value 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. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of 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. Corporate insiders own 0.21% of the company's stock.

Chevron Stock Performance

Shares of Chevron stock traded up $2.07 on Thursday, reaching $157.64. 1,142,644 shares of the stock were exchanged, compared to its average volume of 8,862,617. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average price of $156.03 and a two-hundred day moving average price of $148.13. The firm has a market capitalization of $272.40 billion, a PE ratio of 20.29, a PEG ratio of 2.05 and a beta of 0.84.

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

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.3%. The ex-dividend date was Tuesday, August 19th. Chevron's dividend payout ratio is presently 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.

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