Philip James Wealth Mangement LLC Has $7.32 Million Stock Holdings in Chevron Corporation $CVX

Key Points

• Philip James Wealth Management LLC increased its holdings in Chevron Corporation by 41.2% in the second quarter, now owning shares worth $7.32 million.
• Chevron recently announced a quarterly dividend of $1.71 per share, resulting in an annualized dividend yield of 4.5%.
• Equities analysts have given Chevron a mixed rating with eleven "Buy," eight "Hold," and three "Sell" ratings, and a consensus target price of $165.05.

Philip James Wealth Mangement LLC raised its position in Chevron Corporation (NYSE:CVX - Free Report) by 41.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,148 shares of the oil and gas company's stock after acquiring an additional 14,936 shares during the period. Chevron comprises approximately 0.9% of Philip James Wealth Mangement LLC's holdings, making the stock its 24th largest holding. Philip James Wealth Mangement LLC's holdings in Chevron were worth $7,324,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd increased its holdings in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after buying an additional 122 shares during the period. Elequin Capital LP bought a new stake in Chevron in the first quarter valued at about $31,000. Cloud Capital Management LLC bought a new stake in Chevron in the first quarter valued at about $39,000. Investment Management Corp VA ADV raised its position in Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock worth $39,000 after purchasing an additional 149 shares in the last quarter. Finally, 1 North Wealth Services LLC acquired a new stake in Chevron during the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CVX shares. Barclays restated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Morgan Stanley initiated coverage on shares of Chevron in a research note on Monday, August 4th. They issued an "overweight" rating and a $174.00 target price on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. 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 research note on Monday, August 4th. Finally, Mizuho dropped their price objective on shares of Chevron from $192.00 to $191.00 and set an "outperform" rating for the company in a report on Monday, September 15th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $165.05.

Chevron Trading Down 0.7%

CVX stock opened at $153.53 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The business has a fifty day moving average of $156.26 and a 200-day moving average of $149.14. The company has a market cap of $265.30 billion, a P/E ratio of 19.76, a PEG ratio of 1.97 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. The firm had revenue of $44.82 billion during 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 company's revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.55 earnings per share. As a group, equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron's payout ratio is currently 88.03%.

Insiders Place Their Bets

In other news, Director John B. Hess sold 375,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president directly owned 1,181 shares of the company's stock, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.