Inman Jager Wealth Management LLC Increases Stake in Chevron Corporation $CVX

Inman Jager Wealth Management LLC raised its stake in Chevron Corporation (NYSE:CVX) by 3.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,066 shares of the oil and gas company’s stock after purchasing an additional 672 shares during the period. Chevron accounts for approximately 1.7% of Inman Jager Wealth Management LLC’s investment portfolio, making the stock its 13th largest holding. Inman Jager Wealth Management LLC’s holdings in Chevron were worth $2,587,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. GAMMA Investing LLC grew its stake in Chevron by 27.3% in the first quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock valued at $5,408,000 after purchasing an additional 6,928 shares during the last quarter. West Branch Capital LLC grew its stake in Chevron by 30.6% in the first quarter. West Branch Capital LLC now owns 12,653 shares of the oil and gas company’s stock valued at $2,117,000 after purchasing an additional 2,964 shares during the last quarter. Elevation Point Wealth Partners LLC grew its stake in Chevron by 3.4% in the first quarter. Elevation Point Wealth Partners LLC now owns 22,197 shares of the oil and gas company’s stock valued at $3,713,000 after purchasing an additional 734 shares during the last quarter. CVA Family Office LLC grew its stake in Chevron by 2.2% in the first quarter. CVA Family Office LLC now owns 9,496 shares of the oil and gas company’s stock valued at $1,589,000 after purchasing an additional 203 shares during the last quarter. Finally, Goldstone Financial Group LLC grew its stake in Chevron by 69.7% in the first quarter. Goldstone Financial Group LLC now owns 8,444 shares of the oil and gas company’s stock valued at $1,413,000 after purchasing an additional 3,467 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% 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, Director John B. Hess sold 375,000 shares of the business’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 value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CVX. UBS Group lifted their target price on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Barclays lowered their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Scotiabank raised their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday. Mizuho lowered their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Finally, Piper Sandler raised their price target on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $165.40.

Chevron Trading Down 1.7%

Chevron stock opened at $149.11 on Friday. 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. The company has a market capitalization of $257.66 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 1.92 and a beta of 0.84. The stock has a 50-day moving average price of $156.10 and a 200 day moving average price of $148.54.

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 analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.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 previous year, the company posted $2.55 earnings per share. The company’s revenue was down 12.4% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. Chevron’s payout ratio is 88.03%.

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.