Wealthcare Advisory Partners LLC Acquires 5,990 Shares of Chevron Corporation $CVX

Wealthcare Advisory Partners LLC grew its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 21.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,293 shares of the oil and gas company's stock after buying an additional 5,990 shares during the period. Wealthcare Advisory Partners LLC's holdings in Chevron were worth $4,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. CCG Wealth Management LLC increased its stake in Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock worth $1,060,000 after acquiring an additional 145 shares during the last quarter. Ignite Planners LLC increased its position in Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock worth $2,060,000 after purchasing an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. raised its stake in Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after purchasing an additional 495 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Chevron by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after purchasing an additional 675 shares in the last quarter. Finally, Capital Advisors Inc. OK lifted its position in Chevron by 0.3% during the first quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company's stock valued at $95,231,000 after purchasing an additional 1,755 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company restated an "overweight" rating and issued a $178.00 target price on shares of Chevron in a report on Friday, August 1st. Scotiabank reissued a "sector perform" rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Piper Sandler raised their price objective on Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Morgan Stanley began coverage on Chevron in a research report on Monday, August 4th. They set an "overweight" rating and a $174.00 target price on the stock. Finally, Barclays restated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Chevron presently has a consensus rating of "Hold" and an average target price of $165.05.

Chevron Price Performance

CVX opened at $153.59 on Monday. The business has a fifty day moving average of $156.23 and a 200 day moving average of $148.87. The stock has a market cap of $265.40 billion, a P/E ratio of 19.77, a PEG ratio of 1.99 and a beta of 0.84. 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 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its 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. The business 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%.The business's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period last year, the company earned $2.55 earnings per share. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron's dividend payout ratio is currently 88.03%.

Insider Buying and Selling

In other news, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Alana K. Knowles sold 3,978 shares of the business'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. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

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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