Corient Private Wealth LLC Buys 418,658 Shares of Chevron Corporation $CVX

Corient Private Wealth LLC raised its stake in Chevron Corporation (NYSE:CVX) by 18.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,629,205 shares of the oil and gas company’s stock after acquiring an additional 418,658 shares during the period. Corient Private Wealth LLC’s holdings in Chevron were worth $400,684,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Core Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter valued at $26,000. Phillip James Consulting Co. bought a new stake in Chevron in the fourth quarter worth approximately $26,000. Basso Capital Management L.P. acquired a new position in Chevron in the fourth quarter valued at approximately $27,000. Karpus Management Inc. acquired a new position in Chevron in the fourth quarter valued at approximately $27,000. Finally, Quattro Advisors LLC acquired a new position in Chevron in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the transaction, the insider directly owned 8,638 shares in the company, valued at $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 615,200 shares of company stock valued at $118,022,760 in the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Chevron Price Performance

CVX opened at $173.51 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The company has a market capitalization of $345.56 billion, a price-to-earnings ratio of 30.07, a P/E/G ratio of 0.57 and a beta of 0.48. Chevron Corporation has a 1 year low of $142.40 and a 1 year high of $214.71. The firm’s fifty day moving average price is $186.63 and its two-hundred day moving average price is $179.01.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.18 EPS. As a group, analysts anticipate that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

Analysts Set New Price Targets

A number of equities research analysts have commented on CVX shares. UBS Group raised their price target on shares of Chevron from $218.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Zacks Research downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. TD Cowen raised their target price on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research note on Friday, May 8th. BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price for the company in a research report on Friday, April 17th. Finally, Morgan Stanley increased their target price on Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.70.

About Chevron

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.