Redhawk Wealth Advisors Inc. Has $1.27 Million Holdings in Chevron Corporation $CVX

Redhawk Wealth Advisors Inc. lessened its stake in shares of Chevron Corporation (NYSE:CVX) by 7.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,835 shares of the oil and gas company’s stock after selling 686 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Chevron were worth $1,265,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG increased its holdings in shares of Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock valued at $5,212,000 after purchasing an additional 2,641 shares during the period. State of Wyoming increased its holdings in shares of Chevron by 662.3% in the 4th quarter. State of Wyoming now owns 2,226 shares of the oil and gas company’s stock valued at $322,000 after purchasing an additional 1,934 shares during the period. Two Sigma Investments LP increased its holdings in shares of Chevron by 84.5% in the 4th quarter. Two Sigma Investments LP now owns 35,171 shares of the oil and gas company’s stock valued at $5,094,000 after purchasing an additional 16,104 shares during the period. Woodline Partners LP acquired a new position in shares of Chevron in the 4th quarter valued at about $14,537,000. Finally, First Heartland Consultants Inc. increased its holdings in shares of Chevron by 8.9% in the 4th quarter. First Heartland Consultants Inc. now owns 4,135 shares of the oil and gas company’s stock valued at $599,000 after purchasing an additional 338 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, 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 transaction of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the company’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 transaction, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research reports. Mizuho dropped their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a report on Monday. UBS Group boosted their price target on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Scotiabank reissued a “sector perform” rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. TD Cowen boosted their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Finally, Melius initiated coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $165.05.

Chevron Stock Down 0.8%

CVX opened at $158.87 on Friday. The business has a 50 day moving average price of $155.23 and a 200 day moving average price of $148.98. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The firm has a market cap of $274.52 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 2.01 and a beta of 0.90.

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

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.3%. The ex-dividend date was Tuesday, August 19th. Chevron’s payout ratio is 88.03%.

About Chevron

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.