Drucker Wealth 3.0 LLC Buys 7,745 Shares of Chevron Corporation $CVX

Key Points

• Drucker Wealth 3.0 LLC significantly increased its stake in Chevron Corporation by 313.2%, adding 7,745 shares and bringing its total holdings to 10,218 shares valued at approximately $1.56 million.
• Chevron reported earnings of $1.77 per share for the last quarter, exceeding the analysts' estimate of $1.58, despite a year-over-year revenue decline of 12.4%.
• The company announced a quarterly dividend of $1.71 per share, representing an annualized dividend yield of 4.6% and a payout ratio of 88.03%.

Drucker Wealth 3.0 LLC lifted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 313.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,218 shares of the oil and gas company's stock after buying an additional 7,745 shares during the period. Drucker Wealth 3.0 LLC's holdings in Chevron were worth $1,564,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Aberdeen Group plc lifted its stake in shares of Chevron by 5.7% in the second quarter. Aberdeen Group plc now owns 906,183 shares of the oil and gas company's stock valued at $129,756,000 after buying an additional 49,236 shares during the period. Zullo Investment Group Inc. lifted its stake in shares of Chevron by 2.7% in the second quarter. Zullo Investment Group Inc. now owns 5,528 shares of the oil and gas company's stock valued at $792,000 after buying an additional 143 shares during the period. First Fiduciary Investment Counsel Inc. lifted its stake in shares of Chevron by 15.2% in the second quarter. First Fiduciary Investment Counsel Inc. now owns 1,898 shares of the oil and gas company's stock valued at $272,000 after buying an additional 250 shares during the period. Strong Tower Advisory Services lifted its stake in shares of Chevron by 5.4% in the second quarter. Strong Tower Advisory Services now owns 19,695 shares of the oil and gas company's stock valued at $2,820,000 after buying an additional 1,002 shares during the period. Finally, JB Capital LLC lifted its stake in shares of Chevron by 3.3% in the second quarter. JB Capital LLC now owns 4,421 shares of the oil and gas company's stock valued at $633,000 after buying an additional 140 shares during the period. Institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

NYSE:CVX opened at $149.11 on Friday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a 50 day moving average of $156.10 and a 200-day moving average of $148.67. 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 stock has a market capitalization of $257.66 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84.

Chevron (NYSE:CVX - Get Free Report) last posted its 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. 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 analysts' expectations of $44.59 billion. During the same quarter in the previous year, the company posted $2.55 earnings per share. Chevron's quarterly revenue was down 12.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company 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. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. Chevron's payout ratio is 88.03%.

Insider Buying and Selling

In other 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 completion of the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the director owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CVX shares. Melius Research started coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price for the company. UBS Group raised their price target on shares of Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Scotiabank raised their price target on shares of Chevron from $160.00 to $165.00 and gave the stock a "sector perform" rating in a research note on Thursday. Wells Fargo & Company restated an "overweight" rating and set a $178.00 price target on shares of Chevron in a research note on Friday, August 1st. Finally, Raymond James Financial restated an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Chevron currently has a consensus rating of "Hold" and a consensus target price of $165.40.

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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