ORG Wealth Partners LLC Reduces Holdings in Chevron Corporation $CVX

Key Points

• ORG Wealth Partners LLC decreased its holdings in Chevron Corporation by 38.1%, selling 2,470 shares and leaving it with a total of 4,016 shares valued at $585,000.
• Several institutional investors, including Sage Capital Advisors and CCG Wealth Management, have increased their stakes in Chevron, indicating a mixed sentiment among investors.
• Chelrova’s recent earnings report showed an EPS of $1.77 which surpassed the consensus estimate by $0.19, even as revenues declined by 12.4% year-over-year.

ORG Wealth Partners LLC reduced its stake in Chevron Corporation (NYSE:CVX - Free Report) by 38.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,016 shares of the oil and gas company's stock after selling 2,470 shares during the period. ORG Wealth Partners LLC's holdings in Chevron were worth $585,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Sage Capital Advisors llc grew its stake in shares of Chevron by 2.2% in the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after purchasing an additional 919 shares during the last quarter. CCG Wealth Management LLC increased its stake in shares of Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after buying an additional 145 shares during the period. Ignite Planners LLC raised its holdings in shares of Chevron by 14.1% during the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after acquiring an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. raised its holdings in shares of Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after acquiring an additional 495 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock worth $24,075,000 after acquiring an additional 675 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Chevron stock opened at $160.13 on Friday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $276.70 billion, a P/E ratio of 20.61, a PEG ratio of 2.01 and a beta of 0.90. The stock's 50 day moving average is $156.04 and its 200 day moving average is $149.15.

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

Chevron Announces Dividend

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

Insider Activity

In related news, Director John B. Hess sold 375,000 shares of the company'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 value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the 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 sale, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. TD Cowen upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a report on Monday, August 4th. Bank of America increased their price target on shares of Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Melius Research initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective on the stock. Mizuho reduced their target price on Chevron from $192.00 to $191.00 and set an "outperform" rating on the stock in a report on Monday, September 15th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $165.05.

Chevron 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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