Corient Private Wealth LLC Increases Position in Chevron Corporation $CVX

Corient Private Wealth LLC lifted its holdings in Chevron Corporation (NYSE:CVX) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,535,099 shares of the oil and gas company’s stock after acquiring an additional 47,836 shares during the period. Corient Private Wealth LLC’s holdings in Chevron were worth $363,001,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Elequin Capital LP bought a new stake in shares of Chevron in the 1st quarter worth about $31,000. Quaker Wealth Management LLC lifted its stake in Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 439 shares during the period. Vermillion & White Wealth Management Group LLC boosted its stake in shares of Chevron by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 118 shares in the last quarter. IMG Wealth Management Inc. boosted its position in Chevron by 52.3% during the second 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 in the last quarter. Finally, GFG Capital LLC purchased a new position in shares of Chevron in the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.5%

CVX opened at $149.95 on Monday. The firm has a market cap of $301.93 billion, a P/E ratio of 21.09, a P/E/G ratio of 8.91 and a beta of 0.68. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $152.74 and a 200-day simple moving average of $152.19. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.Chevron’s revenue was down 1.9% compared to the same quarter last year. During the same period last year, the business posted $2.48 earnings per share. On average, equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s payout ratio is currently 96.20%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVX. Wells Fargo & Company raised their price target on shares of Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Raymond James Financial reissued an “outperform” rating and set a $160.00 target price (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. Mizuho lifted their price target on Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Zacks Research lowered Chevron from a “hold” rating to a “strong sell” rating in a report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Chevron presently has a consensus rating of “Hold” and a consensus target price of $166.00.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the transaction, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

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.