Chung Wu Investment Group LLC Acquires 1,920 Shares of Chevron Corporation $CVX

Chung Wu Investment Group LLC raised its stake in shares of Chevron Corporation (NYSE:CVX) by 66.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,820 shares of the oil and gas company’s stock after buying an additional 1,920 shares during the period. Chung Wu Investment Group LLC’s holdings in Chevron were worth $690,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CVX. Kingstone Capital Partners Texas LLC boosted its holdings in Chevron by 652,139.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after acquiring an additional 83,702,101 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after buying an additional 1,574,464 shares during the last quarter. Invesco Ltd. increased its position in Chevron by 5.5% in the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock worth $2,652,437,000 after buying an additional 827,851 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Chevron by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after buying an additional 40,758 shares during the last quarter. Finally, GQG Partners LLC bought a new stake in shares of Chevron in the first quarter valued at approximately $1,466,751,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CVX shares. UBS Group boosted their price objective on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Barclays reissued an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Finally, TD Cowen boosted their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Chevron presently has an average rating of “Hold” and a consensus price target of $165.05.

Chevron Stock Performance

Shares of NYSE:CVX opened at $153.59 on Monday. 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 fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm’s 50 day simple moving average is $156.23 and its 200 day simple moving average is $148.87. The company has a market capitalization of $265.40 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 1.99 and a beta of 0.84.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter last year, the business posted $2.55 EPS. The firm’s revenue was down 12.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. 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 88.03%.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 3,978 shares of the 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 transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction dated 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 represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 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.