Global Retirement Partners LLC Acquires Shares of 86,122 Chevron Corporation $CVX

Key Points

• Global Retirement Partners acquired 86,122 Chevron shares worth approximately $14.3 million, while institutional investors collectively own 72.42% of CVX.
• Analysts maintain a “Moderate Buy” consensus on Chevron, with an average price target of $207.48; 20 analysts rate the stock Buy, five Hold, and one Sell.
• Chevron reported quarterly EPS of $6.06 and revenue of $67.2 billion, exceeding estimates, and declared a quarterly dividend of $1.78 per share, equivalent to a 3.6% annualized yield.

Global Retirement Partners LLC acquired a new stake in Chevron Corporation (NYSE:CVX - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 86,122 shares of the oil and gas company's stock, valued at approximately $14,276,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. Midwest Capital Advisors LLC bought a new stake in Chevron in the 1st quarter valued at $25,000. Core Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at $26,000. Phillip James Consulting Co. bought a new position in Chevron during the fourth quarter worth $26,000. Basso Capital Management L.P. bought a new position in Chevron during the fourth quarter worth $27,000. Finally, Karpus Management Inc. acquired a new position in shares of Chevron in the fourth quarter valued at $27,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CVX shares. Sanford C. Bernstein increased their price objective on shares of Chevron from $204.00 to $209.00 and gave the company a "market perform" rating in a research report on Monday, August 3rd. Barclays lifted their target price on shares of Chevron from $213.00 to $216.00 and gave the stock an "equal weight" rating in a report on Monday, August 3rd. The Goldman Sachs Group reiterated a "buy" rating and issued a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. Wolfe Research raised shares of Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price target on the stock in a report on Thursday, July 2nd. Finally, Jefferies Financial Group restated a "buy" rating and set a $216.00 price objective on shares of Chevron in a research report on Friday, July 10th. Twenty equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $207.48.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 100,000 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the sale, the director owned 178,045 shares of the company's stock, valued at $34,587,021.70. The trade was a 35.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael K. Wirth sold 5,547 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the transaction, the chief executive officer owned 26,308 shares in the company, valued at approximately $4,919,596. The trade was a 17.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,196,212 shares of company stock valued at $231,819,366 in the last three months. Insiders own 0.56% of the company's stock.

Chevron Stock Down 0.0%

CVX stock opened at $199.99 on Monday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The stock has a market capitalization of $395.13 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 0.61 and a beta of 0.49. The business's fifty day moving average price is $183.30 and its two-hundred day moving average price is $187.01.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company had revenue of $67.20 billion during the quarter, compared to analysts' expectations of $62.72 billion. During the same quarter in the previous year, the business posted $1.77 earnings per share. Chevron's quarterly revenue was up 57.4% on a year-over-year basis. On average, equities analysts anticipate that Chevron Corporation will post 15.86 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. Chevron's payout ratio is currently 68.26%.

About Chevron

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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