Wilkinson Global Asset Management LLC Acquires New Stake in Chevron Corporation $CVX

Wilkinson Global Asset Management LLC acquired a new stake in Chevron Corporation (NYSE:CVX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,348 shares of the oil and gas company’s stock, valued at approximately $555,000.

A number of other large investors also recently bought and sold shares of CVX. Lynch Asset Management Inc. purchased a new position in Chevron during the second quarter worth about $4,492,000. SCS Capital Management LLC acquired a new position in Chevron during the 2nd quarter worth approximately $12,033,000. CORDA Investment Management LLC. purchased a new position in shares of Chevron during the 2nd quarter worth approximately $4,961,000. Sound Portfolio Advisors LLC purchased a new position in shares of Chevron during the 2nd quarter worth approximately $403,000. Finally, Silverlake Wealth Management LLC acquired a new stake in shares of Chevron in the 2nd quarter valued at approximately $2,225,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 5,547 shares of Chevron stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares of the company’s stock, valued at $4,919,596. The trade was a 17.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 710,665 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the sale, the director owned 363,711 shares in the company, valued at $70,596,305.10. This represents a 66.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,196,212 shares of company stock valued at $231,819,366 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CVX. Weiss Ratings upgraded Chevron from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Dbs Bank upgraded Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Morgan Stanley reduced their target price on Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Barclays boosted their target price on shares of Chevron from $213.00 to $216.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Thursday, July 2nd. Twenty equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $207.48.

Chevron Stock Performance

CVX opened at $199.99 on Monday. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The stock has a market cap of $395.13 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.61 and a beta of 0.49. The stock’s 50 day simple moving average is $183.30 and its 200 day simple moving average is $187.01. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.Chevron’s revenue was up 57.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.77 earnings per share. As a group, equities analysts anticipate that Chevron Corporation will post 15.86 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.78 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. Chevron’s dividend payout ratio (DPR) is currently 68.26%.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.