Chevron Corporation $CVX Stock Position Lifted by Virginia Wealth Management Group Inc.

Virginia Wealth Management Group Inc. lifted its position in Chevron Corporation (NYSE:CVX) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,048 shares of the oil and gas company’s stock after acquiring an additional 509 shares during the period. Chevron makes up approximately 2.2% of Virginia Wealth Management Group Inc.’s holdings, making the stock its 25th biggest holding. Virginia Wealth Management Group Inc.’s holdings in Chevron were worth $3,587,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Spartan Planning & Wealth Management bought a new stake in Chevron during the first quarter valued at about $484,000. Rothschild Investment LLC increased its holdings in Chevron by 0.5% in the 1st quarter. Rothschild Investment LLC now owns 135,143 shares of the oil and gas company’s stock valued at $22,608,000 after purchasing an additional 660 shares in the last quarter. St. Louis Financial Planners Asset Management LLC acquired a new position in Chevron in the first quarter valued at approximately $2,535,000. Burns J W & Co. Inc. NY grew its holdings in shares of Chevron by 3.1% during the 1st quarter. Burns J W & Co. Inc. NY now owns 79,641 shares of the oil and gas company’s stock valued at $13,323,000 after acquiring an additional 2,426 shares in the last quarter. Finally, Somerset Trust Co raised its position in Chevron by 2.5% in the first quarter. Somerset Trust Co now owns 15,120 shares of the oil and gas company’s stock worth $2,529,000 after purchasing an additional 364 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value 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 disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CVX shares. Barclays restated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Wells Fargo & Company reiterated an “overweight” rating and issued a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Bank of America upped their target price on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. UBS Group raised their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Finally, Mizuho cut their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $165.05.

Chevron Stock Performance

Shares of CVX stock opened at $160.13 on Friday. The firm’s 50 day moving average is $156.04 and its 200 day moving average is $149.13. The stock has a market capitalization of $276.70 billion, a P/E ratio of 20.61, a PEG ratio of 2.01 and a beta of 0.90. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX) last released 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. The company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.55 earnings per share. On average, sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Tuesday, August 19th. Chevron’s payout ratio is 88.03%.

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.