Triton Wealth Management PLLC Takes Position in Chevron Corporation $CVX

Key Points

• Triton Wealth Management PLLC acquired a new stake in Chevron Corporation, purchasing 2,839 shares valued at approximately $442,000.
• Chevron recently announced a quarterly dividend of $1.71 per share, resulting in an annualized dividend of $6.84 and a yield of 4.5%.
• Recent insider trading included VP Alana K. Knowles and Director John B. Hess selling significant shares, with the latter selling 375,000 shares for over $59 million.

Triton Wealth Management PLLC acquired a new stake in Chevron Corporation (NYSE:CVX - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,839 shares of the oil and gas company's stock, valued at approximately $442,000.

Other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd boosted its stake in shares of 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 purchasing an additional 122 shares during the last quarter. Elequin Capital LP bought a new position in Chevron during the first quarter worth $31,000. Cloud Capital Management LLC bought a new position in Chevron during the first quarter worth $39,000. Investment Management Corp VA ADV boosted its stake in Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock worth $39,000 after acquiring an additional 149 shares in the last quarter. Finally, 1 North Wealth Services LLC bought a new position in Chevron during the first quarter worth $45,000. 72.42% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president 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 is accessible through this link. Also, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Chevron Stock Performance

Shares of CVX stock opened at $152.47 on Wednesday. The firm has a 50-day moving average of $156.12 and a 200-day moving average of $148.34. The company has a market cap of $263.47 billion, a P/E ratio of 19.62, a P/E/G ratio of 1.97 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

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

Chevron Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CVX shares. UBS Group increased their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. 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. Scotiabank upped their price objective on shares of Chevron from $160.00 to $165.00 and gave the stock a "sector perform" rating in a report on Thursday, October 9th. Weiss Ratings restated a "hold (c)" rating on shares of Chevron in a report on Wednesday, October 8th. Finally, Evercore ISI restated an "outperform" rating and set a $180.00 price objective on shares of Chevron in a report on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of "Hold" and a consensus price target of $165.40.

Chevron Company 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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