Chevron Corporation $CVX Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers increased its stake in Chevron Corporation (NYSE:CVX) by 3.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 772,496 shares of the oil and gas company’s stock after purchasing an additional 27,868 shares during the quarter. Cetera Investment Advisers’ holdings in Chevron were worth $110,614,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Fusion Capital LLC grew its position in Chevron by 8.5% during the second quarter. Fusion Capital LLC now owns 8,109 shares of the oil and gas company’s stock worth $1,161,000 after buying an additional 635 shares during the period. WealthShield Partners LLC grew its holdings in shares of Chevron by 7.2% in the 2nd quarter. WealthShield Partners LLC now owns 4,881 shares of the oil and gas company’s stock worth $699,000 after acquiring an additional 326 shares during the period. OmniStar Financial Group Inc. increased its stake in Chevron by 25.0% in the 2nd quarter. OmniStar Financial Group Inc. now owns 5,685 shares of the oil and gas company’s stock valued at $814,000 after purchasing an additional 1,136 shares in the last quarter. Meridian Wealth Management LLC raised its holdings in Chevron by 1.8% during the second quarter. Meridian Wealth Management LLC now owns 78,344 shares of the oil and gas company’s stock worth $11,218,000 after purchasing an additional 1,389 shares during the last quarter. Finally, Opinicus Capital Inc. raised its holdings in Chevron by 6.5% during the second quarter. Opinicus Capital Inc. now owns 7,141 shares of the oil and gas company’s stock worth $1,023,000 after purchasing an additional 435 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVX. Melius initiated coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Barclays lowered their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Raymond James Financial restated an “outperform” rating and set a $160.00 target price (down previously from $170.00) on shares of Chevron in a research report on Friday, October 17th. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Finally, Evercore ISI reissued an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $166.55.

Chevron Stock Performance

NYSE:CVX opened at $157.61 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The firm has a market cap of $317.35 billion, a PE ratio of 20.28, a P/E/G ratio of 4.40 and a beta of 0.83. The firm has a 50 day simple moving average of $155.26 and a 200-day simple moving average of $150.22. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. The firm had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.48 EPS. On average, equities analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.3%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio is presently 96.20%.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, 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 this link. Also, Director John B. Hess sold 375,000 shares of Chevron 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 transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

About Chevron

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.