Genesis Private Wealth LLC Increases Holdings in Chevron Corporation $CVX

Genesis Private Wealth LLC increased its stake in shares of Chevron Corporation (NYSE:CVX) by 5.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,963 shares of the oil and gas company’s stock after acquiring an additional 101 shares during the quarter. Genesis Private Wealth LLC’s holdings in Chevron were worth $281,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CVX. Kingstone Capital Partners Texas LLC lifted its stake in shares of Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Chevron in the 1st quarter valued at $1,466,751,000. Nuveen LLC acquired a new position in shares of Chevron in the 1st quarter valued at $1,362,232,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after purchasing an additional 1,574,464 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Chevron by 141.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after purchasing an additional 1,107,628 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent analyst reports. Melius initiated coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Melius Research started coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. UBS Group boosted their price objective on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Bank of America boosted their price objective on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Chevron presently has an average rating of “Hold” and an average target price of $165.05.

Insider Activity

In other Chevron news, 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 transaction of $59,362,500.00. Following the sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated 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 directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This 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 corporate insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $160.13 on Monday. The stock’s 50-day moving average is $156.04 and its two-hundred day moving average is $149.10. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a market cap of $276.70 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the business earned $2.55 EPS. Chevron’s revenue was down 12.4% on a year-over-year basis. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

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

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.