King Wealth Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

King Wealth boosted its stake in shares of Chevron Co. (NYSE:CVX) by 47.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,468 shares of the oil and gas company’s stock after purchasing an additional 1,428 shares during the period. King Wealth’s holdings in Chevron were worth $703,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. NorthCrest Asset Manangement LLC raised its stake in Chevron by 247.8% during the second quarter. NorthCrest Asset Manangement LLC now owns 3,400 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 5,700 shares during the period. NewSquare Capital LLC increased its position in shares of Chevron by 52.3% in the first quarter. NewSquare Capital LLC now owns 195 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 67 shares in the last quarter. Artemis Wealth Advisors LLC acquired a new stake in shares of Chevron in the first quarter worth $33,000. Worth Asset Management LLC acquired a new stake in shares of Chevron in the first quarter worth $36,000. Finally, HBC Financial Services PLLC acquired a new stake in shares of Chevron in the first quarter worth $37,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Chevron Stock Up 0.1 %

NYSE CVX traded up $0.21 during trading hours on Wednesday, reaching $145.26. 759,440 shares of the company traded hands, compared to its average volume of 8,299,696. Chevron Co. has a 12 month low of $141.73 and a 12 month high of $187.82. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $274.21 billion, a PE ratio of 10.77, a PEG ratio of 0.74 and a beta of 1.16. The company has a 50 day moving average of $160.05 and a two-hundred day moving average of $158.59.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $3.05 EPS for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.65). Chevron had a net margin of 12.11% and a return on equity of 16.15%. The company had revenue of $54.08 billion for the quarter, compared to the consensus estimate of $51.41 billion. During the same quarter last year, the company earned $5.56 earnings per share. The company’s revenue was down 18.9% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 13.59 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be given a $1.51 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 4.16%. Chevron’s payout ratio is currently 44.84%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Chevron from $203.00 to $201.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 17th. UBS Group increased their price objective on shares of Chevron from $209.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research report on Tuesday, October 24th. Mizuho lowered their price target on shares of Chevron from $215.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday. Finally, StockNews.com initiated coverage on shares of Chevron in a report on Thursday, October 5th. They set a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $187.89.

Chevron Profile

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.