WPG Advisers LLC Makes New Investment in Chevron Corporation $CVX

Key Points

• WPG Advisers LLC has acquired a new position in Chevron Corporation, purchasing 1,837 shares valued at approximately $307,000 in the first quarter of 2023.
• Chevron's stock has recently experienced a 12-month low of $132.04 and a high of $168.96, with the current trading price at $159.29.
• The company declared a quarterly dividend of $1.71, representing a dividend yield of 4.3%, with a payout ratio of 88.03%.

WPG Advisers LLC acquired a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,837 shares of the oil and gas company's stock, valued at approximately $307,000.

Other large investors have also made changes to their positions in the company. Sage Capital Advisors llc boosted its stake in shares of Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after acquiring an additional 919 shares during the last quarter. CCG Wealth Management LLC boosted its stake in shares of Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after acquiring an additional 145 shares during the last quarter. Ignite Planners LLC boosted its stake in Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock worth $2,060,000 after buying an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. boosted its stake in Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock worth $993,000 after buying an additional 495 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in Chevron by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock worth $24,075,000 after buying an additional 675 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Trading Up 0.8%

Shares of Chevron stock traded up $1.32 during trading hours on Monday, reaching $160.64. The stock had a trading volume of 6,932,144 shares, compared to its average volume of 7,870,647. The firm has a 50 day simple moving average of $152.29 and a two-hundred day simple moving average of $148.73. The firm has a market capitalization of $277.59 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 2.38 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 Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for 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 company'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 EPS. As a group, equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is presently 88.03%.

Insider Activity at Chevron

In related news, 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 directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Melius Research assumed coverage on Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target on the stock. Piper Sandler raised their price target on Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Raymond James Financial reissued an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Finally, Morgan Stanley initiated coverage on Chevron in a research note on Monday, August 4th. They issued an "overweight" rating and a $174.00 price target on the stock. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Chevron currently has an average rating of "Hold" and an average target price of $163.95.

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.