Red Door Wealth Management LLC Has $4.24 Million Holdings in Chevron Co. (NYSE:CVX)

Red Door Wealth Management LLC lifted its holdings in Chevron Co. (NYSE:CVXGet Rating) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,290 shares of the oil and gas company’s stock after purchasing an additional 1,298 shares during the period. Chevron accounts for about 1.6% of Red Door Wealth Management LLC’s investment portfolio, making the stock its 20th biggest holding. Red Door Wealth Management LLC’s holdings in Chevron were worth $4,240,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Gotham Asset Management LLC raised its holdings in Chevron by 143.9% in the 4th quarter. Gotham Asset Management LLC now owns 38,937 shares of the oil and gas company’s stock worth $4,569,000 after acquiring an additional 22,974 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Chevron by 2.5% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 40,143 shares of the oil and gas company’s stock worth $4,711,000 after acquiring an additional 977 shares during the period. Blair William & Co. IL raised its holdings in Chevron by 22.0% in the 4th quarter. Blair William & Co. IL now owns 583,768 shares of the oil and gas company’s stock worth $68,505,000 after acquiring an additional 105,246 shares during the period. Clearstead Advisors LLC raised its holdings in Chevron by 1.9% in the 4th quarter. Clearstead Advisors LLC now owns 36,104 shares of the oil and gas company’s stock worth $4,237,000 after acquiring an additional 661 shares during the period. Finally, Summit Global Investments raised its holdings in Chevron by 19.3% in the 4th quarter. Summit Global Investments now owns 86,168 shares of the oil and gas company’s stock worth $10,112,000 after acquiring an additional 13,934 shares during the period. Institutional investors and hedge funds own 69.30% of the company’s stock.

Chevron Price Performance

NYSE:CVX opened at $155.01 on Thursday. The firm has a market cap of $304.57 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 0.61 and a beta of 1.15. Chevron Co. has a 12 month low of $96.24 and a 12 month high of $182.40. The company has a quick ratio of 1.11, a current ratio of 1.31 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $155.36 and its two-hundred day moving average price is $160.36.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $1.16. The firm 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%. The company’s revenue for the quarter was up 82.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.71 earnings per share. On average, equities analysts anticipate that Chevron Co. will post 18.37 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were given a dividend of $1.42 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.66%. Chevron’s payout ratio is 37.89%.

Analysts Set New Price Targets

CVX has been the topic of several research reports. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 20th. Citigroup dropped their price objective on shares of Chevron from $170.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 13th. Cowen boosted their price objective on shares of Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, August 15th. Cowen boosted their price objective on shares of Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, August 15th. Finally, Societe Generale upgraded shares of Chevron from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $169.20.

Insider Transactions at Chevron

In other news, CFO Pierre R. Breber sold 22,500 shares of the company’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 transaction of $3,557,475.00. Following the transaction, the chief financial officer now directly owns 7 shares in the company, valued at $1,106.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Wanda M. Austin sold 11,432 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the transaction, the director now directly owns 3,560 shares in the company, valued at $574,762. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Pierre R. Breber sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $158.11, for a total transaction of $3,557,475.00. Following the transaction, the chief financial officer now owns 7 shares in the company, valued at $1,106.77. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,732 shares of company stock worth $23,024,499. Corporate insiders own 0.32% of the company’s stock.

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.

Further Reading

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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