Thrive Wealth Management LLC Raises Stock Position in Chevron Co. (NYSE:CVX)

Thrive Wealth Management LLC increased its holdings in shares of Chevron Co. (NYSE:CVXGet Rating) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,043 shares of the oil and gas company’s stock after purchasing an additional 331 shares during the period. Thrive Wealth Management LLC’s holdings in Chevron were worth $730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Your Advocates Ltd. LLP purchased a new position in shares of Chevron during the first quarter worth $25,000. Cordant Inc. purchased a new position in Chevron in the first quarter valued at $29,000. Joseph P. Lucia & Associates LLC purchased a new position in Chevron in the first quarter valued at $30,000. Orion Capital Management LLC increased its holdings in Chevron by 85.0% in the first quarter. Orion Capital Management LLC now owns 222 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 102 shares in the last quarter. Finally, Worth Asset Management LLC purchased a new position in Chevron in the first quarter valued at $36,000. Hedge funds and other institutional investors own 69.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CVX shares. Wells Fargo & Company lifted their price objective on shares of Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, August 1st. Societe Generale raised shares of Chevron from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Morgan Stanley lifted their price objective on shares of Chevron from $187.00 to $193.00 and gave the company an “equal weight” rating in a report on Tuesday, September 6th. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and dropped their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 20th. Finally, Citigroup dropped their target price on shares of Chevron from $170.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $169.20.

Insider Buying and Selling at Chevron

In other news, EVP James William Johnson sold 85,300 shares of the business’s 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 SEC, which is available through the SEC website. In other news, CFO Pierre R. Breber sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $158.11, for a total value of $3,557,475.00. Following the sale, the chief financial officer now directly owns 7 shares of the company’s stock, valued at approximately $1,106.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James William Johnson sold 85,300 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 141,732 shares of company stock worth $23,024,499 in the last ninety days. 0.32% of the stock is owned by insiders.

Chevron Stock Performance

NYSE:CVX opened at $156.45 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.11. The firm has a market capitalization of $307.39 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 0.60 and a beta of 1.15. The company’s 50-day moving average is $154.36 and its two-hundred day moving average is $160.41. Chevron Co. has a 1-year low of $93.31 and a 1-year high of $182.40.

Chevron (NYSE:CVXGet Rating) last posted its earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, beating the consensus estimate of $4.66 by $1.16. The company had revenue of $68.76 billion for the quarter, compared to analyst estimates of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 19.73%. Chevron’s revenue was up 82.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.71 EPS. Analysts forecast that Chevron Co. will post 18.4 EPS for the current year.

Chevron Announces Dividend

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

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.

See Also

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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