Chevron Corporation $CVX Shares Bought by Venturi Wealth Management LLC

Venturi Wealth Management LLC boosted its position in shares of Chevron Corporation (NYSE:CVX) by 2.7% in the second quarter, HoldingsChannel.com reports. The fund owned 38,489 shares of the oil and gas company’s stock after acquiring an additional 1,005 shares during the quarter. Venturi Wealth Management LLC’s holdings in Chevron were worth $5,511,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd boosted its holdings in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP purchased a new stake in Chevron in the first quarter valued at $31,000. Cloud Capital Management LLC purchased a new stake in Chevron in the first quarter valued at $39,000. Investment Management Corp VA ADV boosted its holdings in Chevron by 171.3% in the first 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 last quarter. Finally, 1 North Wealth Services LLC purchased a new stake in Chevron in the first quarter valued at $45,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.6%

Shares of Chevron stock opened at $154.92 on Wednesday. The firm has a market capitalization of $267.70 billion, a PE ratio of 19.94, a P/E/G ratio of 1.99 and a beta of 0.84. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The firm’s 50-day moving average price is $156.15 and its 200 day moving average price is $148.84. 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 (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, beating 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%. Chevron’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period last year, the company posted $2.55 EPS. On average, sell-side analysts predict 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. Investors of record on Tuesday, August 19th were paid 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 yield of 4.4%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Insider Transactions at Chevron

In related news, 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 value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CVX. Scotiabank reaffirmed a “sector perform” rating and issued a $160.00 price target (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Melius began coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Morgan Stanley began coverage on shares of Chevron in a research note on Monday, August 4th. They set an “overweight” rating and a $174.00 target price on the stock. Piper Sandler increased their target price on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Finally, UBS Group increased their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus price target of $165.15.

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.