Parkwoods Wealth Partners LLC Invests $303,000 in Chevron Corporation $CVX

Parkwoods Wealth Partners LLC acquired a new position in Chevron Corporation (NYSE:CVX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,117 shares of the oil and gas company’s stock, valued at approximately $303,000.

Several other institutional investors have also added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd grew its stake in 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 valued at $25,000 after buying an additional 122 shares in the last quarter. Elequin Capital LP bought a new position in shares of Chevron in the first quarter worth $31,000. IFS Advisors LLC boosted its holdings in shares of Chevron by 119.6% in the first 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 period. Cloud Capital Management LLC purchased a new position in shares of Chevron in the first quarter valued at $39,000. Finally, Investment Management Corp VA ADV raised its stake in shares of Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVX. Barclays restated an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Melius Research assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. TD Cowen boosted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Scotiabank reiterated a “sector perform” rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. 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 company. According to data from MarketBeat.com, Chevron has a consensus rating of “Hold” and an average price target of $165.05.

Chevron Trading Down 0.4%

Shares of CVX opened at $154.64 on Thursday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a market capitalization of $267.21 billion, a P/E ratio of 19.90, a P/E/G ratio of 1.97 and a beta of 0.84. 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 firm’s 50 day simple moving average is $156.31 and its 200 day simple moving average is $149.17.

Chevron (NYSE:CVX) last issued its quarterly 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. The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.55 EPS. Sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company 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. The ex-dividend date 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 presently 88.03%.

Insider Activity

In related news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction that occurred 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 directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.