CreativeOne Wealth LLC Increases Holdings in Chevron Corporation $CVX

Key Points

• CreativeOne Wealth LLC increased its stake in Chevron Corporation by 4.7%, purchasing an additional 1,876 shares during the first quarter, raising its total holdings to 41,643 shares, valued at approximately $6,966,000.
• Chevron's recent quarterly earnings reported an EPS of $1.77, exceeding estimates of $1.58, despite a 12.4% year-over-year revenue decline.
• The company declared a quarterly dividend of $1.71, translating to an annual yield of 4.3%, with a dividend payout ratio of 88.03%.

CreativeOne Wealth LLC increased its stake in Chevron Corporation (NYSE:CVX - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,643 shares of the oil and gas company's stock after purchasing an additional 1,876 shares during the quarter. CreativeOne Wealth LLC's holdings in Chevron were worth $6,966,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd lifted its stake in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 122 shares during the last quarter. 10Elms LLP bought a new stake in Chevron during the fourth quarter worth about $29,000. Elequin Capital LP bought a new stake in Chevron during the first quarter worth about $31,000. Navigoe LLC bought a new stake in Chevron during the fourth quarter worth about $33,000. Finally, IFS Advisors LLC lifted its stake in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 116 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CVX. Evercore ISI reaffirmed an "outperform" rating and set a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Wells Fargo & Company reiterated an "overweight" rating and issued a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. Barclays reiterated an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Finally, HSBC downgraded Chevron from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $163.95.

Chevron Stock Up 0.0%

Shares of CVX traded up $0.05 during mid-day trading on Thursday, reaching $159.29. The company had a trading volume of 6,501,985 shares, compared to its average volume of 8,245,963. 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 firm has a 50-day moving average price of $152.06 and a 200 day moving average price of $148.80. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a market capitalization of $275.26 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 2.36 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm's quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.55 EPS. On average, sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

Insiders Place Their Bets

In other Chevron news, 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 completion of the sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company's stock.

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.