Empower Advisory Group LLC Has $113.90 Million Holdings in Chevron Corporation $CVX

Empower Advisory Group LLC boosted its holdings in shares of Chevron Corporation (NYSE:CVX) by 6.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 795,415 shares of the oil and gas company’s stock after buying an additional 47,590 shares during the quarter. Empower Advisory Group LLC’s holdings in Chevron were worth $113,896,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC raised its stake in shares of Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after acquiring an additional 83,702,101 shares in the last quarter. GQG Partners LLC acquired a new position in Chevron during the first quarter valued at approximately $1,466,751,000. Nuveen LLC bought a new position in shares of Chevron in the first quarter valued at approximately $1,362,232,000. Charles Schwab Investment Management Inc. raised its position in shares of Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after purchasing an additional 1,574,464 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Chevron by 141.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after buying an additional 1,107,628 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 1.3%

CVX opened at $157.61 on Friday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a market capitalization of $317.35 billion, a P/E ratio of 20.28, a P/E/G ratio of 4.40 and a beta of 0.83. 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 fifty day moving average price is $155.26 and its two-hundred day moving average price is $150.22.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The company had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the firm earned $2.48 EPS. On average, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio is currently 96.20%.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company’s 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on 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. The trade was a 21.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVX. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. UBS Group boosted their price objective on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Morgan Stanley raised their target price on Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday. Melius initiated coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $166.55.

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.