FOCUS Wealth Advisors LLC Buys Shares of 9,424 Chevron Co. (NYSE:CVX)

FOCUS Wealth Advisors LLC bought a new stake in shares of Chevron Co. (NYSE:CVXGet Rating) in the 2nd quarter, Holdings Channel.com reports. The fund bought 9,424 shares of the oil and gas company’s stock, valued at approximately $1,364,000. Chevron comprises approximately 0.9% of FOCUS Wealth Advisors LLC’s investment portfolio, making the stock its 28th largest position.

Several other hedge funds have also recently added to or reduced their stakes in CVX. KRS Capital Management LLC purchased a new stake in shares of Chevron during the fourth quarter worth about $177,000. Axiom Advisory LLC purchased a new stake in shares of Chevron during the fourth quarter worth about $573,000. Invesco Ltd. grew its holdings in shares of Chevron by 6.8% during the fourth quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock worth $1,689,870,000 after buying an additional 917,773 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in shares of Chevron by 2.1% during the fourth quarter. GHP Investment Advisors Inc. now owns 20,096 shares of the oil and gas company’s stock worth $2,358,000 after buying an additional 405 shares in the last quarter. Finally, Quilter Plc grew its holdings in shares of Chevron by 53.3% during the fourth quarter. Quilter Plc now owns 397,254 shares of the oil and gas company’s stock worth $47,377,000 after buying an additional 138,153 shares in the last quarter. 69.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Chevron from $181.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, August 1st. Bank of America raised their target price on shares of Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. The Goldman Sachs Group reissued a “neutral” rating and issued a $172.00 target price on shares of Chevron in a research report on Thursday, August 4th. Morgan Stanley raised their target price on shares of Chevron from $187.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 6th. Finally, Cowen raised their target price on shares of Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $169.20.

Chevron Stock Down 2.6 %

Shares of NYSE:CVX opened at $156.45 on Monday. Chevron Co. has a 52 week low of $93.31 and a 52 week high of $182.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.31. The company has a market cap of $307.39 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 0.60 and a beta of 1.15. The firm has a 50 day simple moving average of $154.36 and a 200 day simple moving average of $160.41.

Chevron (NYSE:CVXGet Rating) last released its earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $1.16. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The company had revenue of $68.76 billion during the quarter, compared to the consensus estimate of $57.69 billion. During the same quarter in the prior year, the firm earned $1.71 EPS. The company’s revenue was up 82.9% compared to the same quarter last year. As a group, research analysts expect that Chevron Co. will post 18.4 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were given a $1.42 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a yield of 3.63%. Chevron’s payout ratio is 37.89%.

Insiders Place Their Bets

In other Chevron news, EVP James William Johnson sold 85,300 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total value of $13,990,053.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total transaction of $13,990,053.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Pierre R. Breber sold 22,500 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $161.39, for a total transaction of $3,631,275.00. Following the transaction, the chief financial officer now owns 7 shares in the company, valued at approximately $1,129.73. The disclosure for this sale can be found here. Insiders sold a total of 141,732 shares of company stock worth $23,024,499 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.

About Chevron

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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