Sound View Wealth Advisors Group LLC Acquires 1,865 Shares of Chevron Corporation $CVX

Sound View Wealth Advisors Group LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 5.3% in the second quarter, Holdings Channel.com reports. The firm owned 37,296 shares of the oil and gas company’s stock after purchasing an additional 1,865 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Chevron were worth $5,340,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd increased its position in shares of Chevron by 420.7% during the first 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 in the last quarter. Elequin Capital LP acquired a new position in Chevron in the 1st quarter worth $31,000. Quaker Wealth Management LLC boosted its stake in Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares during the period. Investment Management Corp VA ADV increased its holdings in 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 worth $39,000 after purchasing an additional 149 shares in the last quarter. Finally, IMG Wealth Management Inc. raised its stake in shares of Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 91 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CVX shares. Bank of America upped their price objective on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Evercore ISI reissued an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Scotiabank upped their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $160.00 price objective (down from $170.00) on shares of Chevron in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $165.40.

Chevron Stock Up 1.4%

CVX stock opened at $155.10 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $155.55 and a two-hundred day moving average price of $149.71. The company has a market cap of $268.01 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 4.40 and a beta of 0.83. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The company had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.48 EPS. Analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio is 96.20%.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% 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.