Chevron Corporation $CVX Shares Acquired by Broadway Wealth Solutions Inc.

Broadway Wealth Solutions Inc. lifted its holdings in Chevron Corporation (NYSE:CVX) by 5.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,570 shares of the oil and gas company’s stock after buying an additional 126 shares during the quarter. Broadway Wealth Solutions Inc.’s holdings in Chevron were worth $368,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC boosted its stake in shares of Chevron by 652,139.5% in the second 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 buying an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Chevron by 4.9% in the first 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 buying an additional 1,574,464 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Chevron by 5.5% in the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after buying an additional 827,851 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Chevron by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock valued at $2,054,513,000 after buying an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC purchased a new stake in shares of Chevron in the first quarter valued at approximately $1,466,751,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVX has been the topic of a number of analyst reports. Mizuho decreased their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Evercore ISI reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Chevron in a report on Thursday, July 31st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a report on Friday, July 18th. TD Cowen lifted their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $165.05.

Chevron Stock Performance

NYSE CVX opened at $155.38 on Wednesday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market cap of $268.50 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 1.95 and a beta of 0.90. The business has a fifty day moving average of $156.27 and a 200-day moving average of $149.14. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the previous year, the firm posted $2.55 earnings per share. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron’s payout ratio is currently 88.03%.

Insiders Place Their Bets

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

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.