Salvus Wealth Management LLC Purchases 1,700 Shares of Chevron Corporation $CVX

Key Points

• Salvus Wealth Management LLC increased its stake in Chevron Corporation by 27.7% in Q2, purchasing an additional 1,700 shares, now totaling 7,830 shares valued at around $1.12 million.
• Recent insider trading at Chevron included VP Alana K. Knowles selling 3,978 shares for approximately $636,480, and Director John B. Hess selling 375,000 shares valued at about $59.36 million.
• Chevron disclosed a quarterly dividend of $1.71 with an annual yield of 4.4%, alongside recent fluctuations in its stock price performance and analyst ratings.

Salvus Wealth Management LLC increased its stake in Chevron Corporation (NYSE:CVX - Free Report) by 27.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,830 shares of the oil and gas company's stock after purchasing an additional 1,700 shares during the period. Salvus Wealth Management LLC's holdings in Chevron were worth $1,121,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd lifted its holdings in Chevron by 420.7% during the 1st 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. Elequin Capital LP acquired a new position in Chevron during the 1st quarter worth approximately $31,000. IFS Advisors LLC raised its stake in shares of Chevron by 119.6% in 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. Cloud Capital Management LLC bought a new position in shares of Chevron in the first quarter valued at approximately $39,000. Finally, Investment Management Corp VA ADV raised its stake in shares of 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 valued at $39,000 after buying an additional 149 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

CVX traded down $0.05 during trading on Monday, hitting $156.16. The stock had a trading volume of 5,178,093 shares, compared to its average volume of 7,668,525. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a market capitalization of $269.84 billion, a P/E ratio of 20.10, a PEG ratio of 1.96 and a beta of 0.90. The company's 50-day moving average price is $155.33 and its 200 day moving average price is $148.96.

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 for the quarter, beating the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron's quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the business posted $2.55 EPS. On average, equities research analysts forecast that Chevron Corporation will post 10.79 EPS 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. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron's dividend payout ratio is presently 88.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Mizuho dropped their price target on shares of Chevron from $192.00 to $191.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. Scotiabank reiterated a "sector perform" rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, Bank of America upped their price target on shares of Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $165.05.

Insider Buying and Selling at Chevron

In other news, 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 value of $636,480.00. Following the transaction, the vice president directly 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction 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 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 disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

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.