Corient Private Wealth LLC Has $363 Million Stake in Chevron Corporation $CVX

Corient Private Wealth LLC lifted its stake in Chevron Corporation (NYSE:CVX) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,535,099 shares of the oil and gas company’s stock after buying an additional 47,836 shares during the period. Corient Private Wealth LLC owned about 0.15% of Chevron worth $363,001,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CVX. Elequin Capital LP bought a new position in shares of Chevron in the first quarter valued at about $31,000. Quaker Wealth Management LLC lifted its stake in shares of Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares during the period. Vermillion & White Wealth Management Group LLC grew its position in shares of Chevron by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after buying an additional 118 shares during the period. IMG Wealth Management Inc. increased its stake in Chevron by 52.3% in 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, 1 North Wealth Services LLC acquired a new stake in Chevron during the 1st quarter worth $45,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CVX shares. Wells Fargo & Company upped their price target on shares of Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Bank of America decreased their price target on shares of Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday. Barclays reduced their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Scotiabank boosted their price objective on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Hold” and a consensus price target of $166.00.

Insider Activity

In other 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 completion of the transaction, the director directly owned 1,128,045 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $149.95 on Monday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The business’s 50 day simple moving average is $152.74 and its 200 day simple moving average is $152.19. The stock has a market capitalization of $301.93 billion, a PE ratio of 21.09, a PEG ratio of 8.91 and a beta of 0.68. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86.

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

Chevron Dividend Announcement

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

About Chevron

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.