Chevron Corporation $CVX Shares Purchased by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC boosted its holdings in Chevron Corporation (NYSE:CVX) by 0.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,672 shares of the oil and gas company’s stock after purchasing an additional 356 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Chevron were worth $7,828,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd boosted its holdings in shares of 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 acquiring an additional 122 shares during the period. Elequin Capital LP acquired a new stake in shares of Chevron in the first quarter valued at approximately $31,000. Cloud Capital Management LLC acquired a new stake in shares of Chevron in the first quarter valued at approximately $39,000. Investment Management Corp VA ADV boosted its holdings in shares of 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 acquiring an additional 149 shares during the period. Finally, GFG Capital LLC acquired a new stake in shares of Chevron in the second quarter valued at approximately $42,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CVX shares. TD Cowen increased their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Melius started coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Mizuho decreased their price objective on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Barclays decreased their price objective on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus price target of $165.40.

Chevron Price Performance

Chevron stock opened at $151.86 on Tuesday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. 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 business has a 50 day simple moving average of $156.12 and a 200-day simple moving average of $148.31. The stock has a market capitalization of $262.42 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.55 earnings per share. Equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s dividend payout ratio is presently 88.03%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction 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 transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of the 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 transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

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.