Tulsa Wealth Advisors INC Takes $711,000 Position in Chevron Corporation $CVX

Tulsa Wealth Advisors INC purchased a new stake in Chevron Corporation (NYSE:CVX) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 4,290 shares of the oil and gas company’s stock, valued at approximately $711,000.

A number of other institutional investors have also recently added to or reduced their stakes in CVX. Norges Bank acquired a new stake in shares of Chevron in the 4th quarter worth $3,727,586,000. Bank of New York Mellon Corp acquired a new position in shares of Chevron during the 2nd quarter valued at about $2,378,114,000. State Street Corp boosted its position in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after acquiring an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc grew its holdings in shares of Chevron by 6.6% in the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after purchasing an additional 8,091,570 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in Chevron by 822.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock worth $946,658,000 after purchasing an additional 5,537,580 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the sale, the director owned 178,045 shares of the company’s stock, valued at $34,587,021.70. The trade was a 35.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael K. Wirth sold 5,547 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total value of $1,037,289.00. Following the transaction, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $4,919,596. This represents a 17.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,196,212 shares of company stock worth $231,819,366. 0.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on CVX. Dbs Bank raised shares of Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Piper Sandler initiated coverage on shares of Chevron in a report on Thursday, July 23rd. They set an “overweight” rating and a $207.00 price target for the company. Mizuho set a $224.00 price target on shares of Chevron in a research report on Monday, August 3rd. Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Finally, Sanford C. Bernstein increased their price objective on Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

Chevron Trading Down 0.0%

NYSE CVX opened at $199.99 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The stock has a market capitalization of $395.13 billion, a P/E ratio of 19.17, a PEG ratio of 0.61 and a beta of 0.49. The firm’s 50-day moving average is $183.30 and its two-hundred day moving average is $187.01. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. During the same period last year, the business earned $1.77 earnings per share. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. On average, sell-side analysts anticipate that Chevron Corporation will post 15.86 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is 68.26%.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.