Shelton Wealth Management LLC Acquires New Holdings in Chevron Corporation $CVX

Key Points

• Shelton Wealth Management LLC acquired a new stake of 8,389 shares in Chevron Corporation valued at approximately $1,201,000 during the 2nd quarter.
• Several institutional investors, including Bank Pictet & Cie Europe AG and Two Sigma Investments LP, increased their holdings in Chevron by significant percentages in the 4th quarter.
• Chevron's stock recently experienced insider selling, with Director John B. Hess selling 375,000 shares for over $59 million, representing a 21.09% decrease in his position.

Shelton Wealth Management LLC acquired a new stake in Chevron Corporation (NYSE:CVX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,389 shares of the oil and gas company's stock, valued at approximately $1,201,000.

A number of other large investors have also recently added to or reduced their stakes in CVX. Kingstone Capital Partners Texas LLC lifted its holdings in Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company's stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock valued at $5,592,263,000 after purchasing an additional 1,574,464 shares in the last quarter. Invesco Ltd. lifted its holdings in Chevron by 5.5% in the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company's stock valued at $2,652,437,000 after purchasing an additional 827,851 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Chevron by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company's stock valued at $2,054,513,000 after purchasing an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC purchased a new position in Chevron in the 1st quarter valued at about $1,466,751,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 1.7%

NYSE CVX traded up $2.65 during trading hours on Tuesday, reaching $158.70. 2,781,307 shares of the company traded hands, compared to its average volume of 9,158,645. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. 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 $274.23 billion, a PE ratio of 20.42, a PEG ratio of 1.96 and a beta of 0.90. The company has a 50 day moving average of $155.33 and a two-hundred day moving average of $148.96.

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 company had revenue of $44.82 billion for 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 firm's quarterly revenue was down 12.4% compared to the same quarter last year. During the same period last year, the business posted $2.55 earnings per share. As a group, equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $1.71 dividend. 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 presently 88.03%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on shares of Chevron in a report on Monday, August 4th. They issued an "overweight" rating and a $174.00 target price on the stock. Melius Research initiated coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price on the stock. Evercore ISI restated an "outperform" rating and issued a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, Mizuho reduced their price target on shares of Chevron from $192.00 to $191.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $165.05.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction on 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 completion of the sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

About Chevron

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.