Chevron Corporation $CVX Shares Acquired by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC grew its stake in shares of Chevron Corporation (NYSE:CVX) by 11.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,524 shares of the oil and gas company’s stock after purchasing an additional 2,060 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Chevron were worth $2,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kingstone Capital Partners Texas LLC raised its holdings in Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after buying an additional 83,702,101 shares during the period. GQG Partners LLC acquired a new stake in Chevron during the 1st quarter worth about $1,466,751,000. Nuveen LLC acquired a new stake in Chevron during the 1st quarter worth about $1,362,232,000. Charles Schwab Investment Management Inc. raised its holdings in Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after buying an additional 1,574,464 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Chevron by 141.2% during the 1st 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 period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 1.7%

CVX opened at $149.11 on Friday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The business has a 50-day moving average of $156.10 and a 200-day moving average of $148.67. 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 company has a market capitalization of $257.66 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period last year, the business earned $2.55 EPS. The business’s quarterly revenue was down 12.4% on a year-over-year basis. Equities research analysts forecast 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 was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. Chevron’s dividend payout ratio (DPR) is 88.03%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CVX. Wells Fargo & Company restated an “overweight” rating and set a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Mizuho reduced their price objective on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Barclays reduced their price objective on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, TD Cowen increased their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $165.40.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction 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 represents a 77.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of the 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 in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Chevron Company 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.