Uniting Wealth Partners LLC Invests $1.06 Million in Chevron Corporation $CVX

Uniting Wealth Partners LLC purchased a new stake in shares of Chevron Corporation (NYSE:CVX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,386 shares of the oil and gas company’s stock, valued at approximately $1,058,000.

Several other hedge funds have also made changes to their positions in CVX. Midwest Capital Advisors LLC purchased a new position in Chevron during the 1st quarter worth approximately $25,000. Core Wealth Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter valued at $26,000. Phillip James Consulting Co. purchased a new stake in shares of Chevron in the fourth quarter valued at $26,000. Basso Capital Management L.P. acquired a new stake in shares of Chevron in the fourth quarter worth $27,000. Finally, Karpus Management Inc. acquired a new stake in shares of Chevron in the fourth quarter worth $27,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.0%

Chevron stock opened at $199.99 on Monday. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The stock has a market cap of $395.13 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.61 and a beta of 0.49. The company’s fifty day simple moving average is $183.30 and its 200-day simple moving average is $187.01.

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

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s dividend payout ratio is presently 68.26%.

Wall Street Analyst Weigh In

CVX has been the topic of several recent analyst reports. Wall Street Zen raised Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. UBS Group restated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Dbs Bank raised Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Piper Sandler started coverage on Chevron in a report on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 target price on the stock. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $216.00 target price on shares of Chevron in a report on Friday, July 10th. Twenty analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.48.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 5,547 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the completion of the sale, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at $4,919,596. This trade represents a 17.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Hess sold 100,000 shares of Chevron stock in a transaction dated Monday, August 3rd. The shares were 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 approximately $34,587,021.70. This represents a 35.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,196,212 shares of company stock valued at $231,819,366 over the last ninety days. Company insiders own 0.56% of the company’s stock.

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.