Chevron Corporation $CVX Shares Acquired by BCS Wealth Management

BCS Wealth Management grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 48.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,518 shares of the oil and gas company’s stock after purchasing an additional 2,464 shares during the period. BCS Wealth Management’s holdings in Chevron were worth $1,077,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. DB Fitzpatrick & Co Inc increased its position in Chevron by 1.5% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 8,718 shares of the oil and gas company’s stock valued at $1,248,000 after buying an additional 128 shares in the last quarter. Accurate Wealth Management LLC grew its stake in shares of Chevron by 4.8% during the second quarter. Accurate Wealth Management LLC now owns 25,882 shares of the oil and gas company’s stock worth $3,990,000 after acquiring an additional 1,193 shares during the last quarter. Maseco LLP acquired a new position in shares of Chevron during the second quarter valued at about $53,000. CCM Investment Advisers LLC raised its position in shares of Chevron by 0.6% in the 2nd quarter. CCM Investment Advisers LLC now owns 72,761 shares of the oil and gas company’s stock valued at $10,419,000 after purchasing an additional 401 shares during the last quarter. Finally, Sheets Smith Wealth Management boosted its stake in Chevron by 21.0% in the 2nd quarter. Sheets Smith Wealth Management now owns 5,438 shares of the oil and gas company’s stock worth $779,000 after purchasing an additional 942 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 0.8%

Shares of CVX opened at $157.29 on Wednesday. The company has a market capitalization of $271.80 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.96 and a beta of 0.90. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock’s 50-day moving average price is $155.46 and its 200-day moving average price is $149.02. 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 (NYSE:CVX) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating 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 company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the previous year, the company posted $2.55 earnings per share. Chevron’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 4.3%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was 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 position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. Wells Fargo & Company reiterated an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. TD Cowen lifted their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Scotiabank reiterated a “sector perform” rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Melius began coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $165.05.

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.