Belpointe Asset Management LLC Buys 1,195 Shares of Chevron Corporation $CVX

Belpointe Asset Management LLC raised its position in shares of Chevron Corporation (NYSE:CVX) by 5.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,083 shares of the oil and gas company’s stock after acquiring an additional 1,195 shares during the period. Belpointe Asset Management LLC’s holdings in Chevron were worth $3,862,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GDS Wealth Management raised its holdings in shares of Chevron by 4.4% in the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock worth $285,000 after buying an additional 72 shares during the period. AIMZ Investment Advisors LLC lifted its holdings in Chevron by 4.2% during the 1st quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company’s stock valued at $298,000 after buying an additional 72 shares in the last quarter. Clayton Financial Group LLC boosted its position in Chevron by 4.6% in the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock valued at $285,000 after buying an additional 75 shares during the period. Gill Capital Partners LLC grew its stake in Chevron by 4.9% in the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company’s stock worth $271,000 after acquiring an additional 75 shares in the last quarter. Finally, Cordatus Wealth Management LLC grew its stake in Chevron by 0.4% in the 1st quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company’s stock worth $3,299,000 after acquiring an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX stock opened at $154.64 on Wednesday. The stock’s 50-day moving average is $154.09 and its 200 day moving average is $148.82. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. 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 company has a market cap of $267.22 billion, a P/E ratio of 19.90, a PEG ratio of 2.28 and a beta of 0.90.

Chevron (NYSE:CVX) last announced 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 net margin of 7.02% and a return on equity of 9.90%. The business 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. The firm’s revenue was down 12.4% on a year-over-year basis. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is 88.03%.

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction on 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 sale, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction 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 transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on CVX. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and decreased their price target for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Morgan Stanley began coverage on Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price for the company. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Scotiabank restated 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. Finally, Raymond James Financial restated an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $163.95.

Chevron 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.