U.S. Capital Wealth Advisors LLC Boosts Stake in Chevron Corporation $CVX

Key Points

• U.S. Capital Wealth Advisors LLC increased its stake in Chevron Corporation by 5.9% in Q2, owning a total of 211,404 shares valued at approximately $30.3 million.
• Chevron recently disclosed a quarterly dividend of $1.71 per share, resulting in an annualized dividend yield of 4.4%.
• Analysts have given Chevron mixed ratings, with price targets ranging from $155.00 to $197.00, reflecting an average price target of $165.05.

U.S. Capital Wealth Advisors LLC raised its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 5.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 211,404 shares of the oil and gas company's stock after purchasing an additional 11,777 shares during the period. Chevron accounts for 0.9% of U.S. Capital Wealth Advisors LLC's portfolio, making the stock its 17th largest position. U.S. Capital Wealth Advisors LLC's holdings in Chevron were worth $30,271,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd lifted its stake 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 worth $25,000 after purchasing an additional 122 shares in the last quarter. Elequin Capital LP purchased a new position in shares of Chevron in the 1st quarter worth $31,000. IFS Advisors LLC raised its position in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares during the period. Cloud Capital Management LLC purchased a new position in Chevron during the first quarter worth $39,000. Finally, Investment Management Corp VA ADV raised its position in Chevron by 171.3% in the 1st 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 during the period. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

CVX traded down $0.05 during midday trading on Monday, hitting $156.16. 5,178,093 shares of the company traded hands, compared to its average volume of 7,668,525. The business has a 50 day simple moving average of $155.33 and a two-hundred day simple moving average of $148.96. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a market capitalization of $269.84 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 1.96 and a beta of 0.90. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron's dividend payout ratio is 88.03%.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction that occurred 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 completion of the sale, the vice president owned 1,181 shares of the company's stock, valued at $188,960. This trade represents a 77.11% 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.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research analyst reports. Wells Fargo & Company reiterated an "overweight" rating and set a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. Morgan Stanley initiated coverage on shares of Chevron in a report on Monday, August 4th. They issued an "overweight" rating and a $174.00 price target on the stock. UBS Group raised their price objective on Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Raymond James Financial reaffirmed an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. Finally, Scotiabank reissued a "sector perform" rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $165.05.

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.