Philip James Wealth Mangement LLC Has $7.32 Million Holdings in Chevron Corporation $CVX

Philip James Wealth Mangement LLC lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 41.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 51,148 shares of the oil and gas company’s stock after buying an additional 14,936 shares during the period. Chevron makes up 0.9% of Philip James Wealth Mangement LLC’s investment portfolio, making the stock its 24th biggest position. Philip James Wealth Mangement LLC’s holdings in Chevron were worth $7,324,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. Harvest Fund Management Co. Ltd raised its position in Chevron by 420.7% during the first 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 in the last quarter. Elequin Capital LP acquired a new stake in shares of Chevron in the 1st quarter valued at $31,000. Cloud Capital Management LLC bought a new position in shares of Chevron in the 1st quarter valued at $39,000. Investment Management Corp VA ADV lifted its position in shares of Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after buying an additional 149 shares during the last quarter. Finally, Cooksen Wealth LLC acquired a new stake in Chevron in the first quarter valued at about $43,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CVX shares. Barclays reissued an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Bank of America increased their price objective on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Mizuho decreased their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a report on Friday, July 18th. Finally, TD Cowen lifted their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $165.05.

Chevron Stock Down 0.7%

Shares of NYSE CVX opened at $153.53 on Friday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company’s 50 day moving average price is $156.26 and its 200-day moving average price is $149.14. The company has a market capitalization of $265.30 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 1.97 and a beta of 0.84.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter last year, the firm posted $2.55 earnings per share. The firm’s revenue was down 12.4% on a year-over-year basis. Equities analysts forecast 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. Investors of record on Tuesday, August 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron’s payout ratio is presently 88.03%.

Insider Buying and Selling at Chevron

In other Chevron news, 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company’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 transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

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.