Institute for Wealth Management LLC. Acquires 188 Shares of Chevron Corporation $CVX

Institute for Wealth Management LLC. raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 4.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,039 shares of the oil and gas company’s stock after buying an additional 188 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Chevron were worth $578,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Harvest Fund Management Co. Ltd lifted its holdings in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares during the last quarter. Elequin Capital LP bought a new stake in shares of Chevron in the 1st quarter worth about $31,000. IFS Advisors LLC lifted its holdings in shares of Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 116 shares during the last quarter. Cloud Capital Management LLC bought a new stake in shares of Chevron in the 1st quarter worth about $39,000. Finally, Investment Management Corp VA ADV lifted its holdings in shares of Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 149 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.4%

NYSE CVX opened at $154.64 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market capitalization of $267.21 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 1.97 and a beta of 0.84. The company’s 50-day simple moving average is $156.31 and its two-hundred day simple moving average is $149.17. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The business 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%. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.55 EPS. Equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron’s dividend payout ratio (DPR) is 88.03%.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CVX. Mizuho lowered their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Scotiabank restated a “sector perform” rating and issued a $160.00 target price (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Bank of America raised their target price on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Barclays reiterated an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $165.05.

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.