Wealthfront Advisers LLC Has $33.06 Million Stake in Chevron Corporation $CVX

Wealthfront Advisers LLC lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 36.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 212,860 shares of the oil and gas company’s stock after acquiring an additional 56,544 shares during the quarter. Wealthfront Advisers LLC’s holdings in Chevron were worth $33,055,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. White Knight Strategic Wealth Advisors LLC boosted its holdings in shares of Chevron by 3.0% during the 2nd quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock worth $319,000 after buying an additional 65 shares during the period. Vishria Bird Financial Group LLC boosted its holdings in shares of Chevron by 1.2% during the third quarter. Vishria Bird Financial Group LLC now owns 5,285 shares of the oil and gas company’s stock worth $821,000 after acquiring an additional 65 shares during the period. Nexus Investment Management ULC boosted its holdings in shares of Chevron by 0.9% during the third quarter. Nexus Investment Management ULC now owns 7,641 shares of the oil and gas company’s stock worth $1,187,000 after acquiring an additional 65 shares during the period. Scott & Selber Inc. grew its position in shares of Chevron by 0.5% in the third quarter. Scott & Selber Inc. now owns 13,391 shares of the oil and gas company’s stock valued at $2,079,000 after purchasing an additional 65 shares during the last quarter. Finally, Rakuten Securities Inc. increased its stake in shares of Chevron by 7.4% during the second quarter. Rakuten Securities Inc. now owns 961 shares of the oil and gas company’s stock worth $138,000 after purchasing an additional 66 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research reports. Scotiabank reaffirmed a “sector perform” rating and issued a $168.00 price objective on shares of Chevron in a report on Friday, January 16th. Freedom Capital downgraded shares of Chevron from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 6th. BMO Capital Markets reiterated an “outperform” rating and issued a $190.00 price objective on shares of Chevron in a research note on Monday, February 2nd. Mizuho increased their target price on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, January 21st. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Hold” and an average price target of $175.00.

Insider Activity

In other news, CFO Eimear P. Bonner sold 32,100 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $175.01, for a total value of $5,617,821.00. Following the completion of the transaction, the chief financial officer owned 4,366 shares of the company’s stock, valued at approximately $764,093.66. This represents a 88.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hess sold 275,000 shares of Chevron stock in a transaction that occurred on 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 sale, the director directly owned 1,128,045 shares in the company, valued at $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 793,158 shares of company stock valued at $127,919,578. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $182.70 on Tuesday. The firm’s 50 day simple moving average is $159.90 and its 200 day simple moving average is $156.66. The firm has a market capitalization of $367.87 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 12.11 and a beta of 0.70. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $182.82.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.08. Chevron had a return on equity of 8.23% and a net margin of 6.51%.The firm had revenue of $45.79 billion during the quarter, compared to analysts’ expectations of $48.18 billion. During the same period in the prior year, the company earned $2.06 earnings per share. The company’s quarterly revenue was down 10.2% on a year-over-year basis. As a group, research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be given a $1.78 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Tuesday, February 17th. Chevron’s dividend payout ratio (DPR) is presently 102.70%.

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.