Wealthfront Advisers LLC Buys 36,275 Shares of Chevron Corporation $CVX

Wealthfront Advisers LLC lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 17.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 239,405 shares of the oil and gas company’s stock after acquiring an additional 36,275 shares during the quarter. Wealthfront Advisers LLC’s holdings in Chevron were worth $49,533,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. United Bank grew its position in shares of Chevron by 7.7% during the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after buying an additional 796 shares in the last quarter. Schnieders Capital Management LLC. increased its stake in shares of Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock valued at $7,280,000 after buying an additional 4,214 shares during the period. BNP Paribas raised its holdings in shares of Chevron by 76.4% in the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 191 shares in the last quarter. Osterweis Capital Management Inc. raised its holdings in shares of Chevron by 678.9% in the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after acquiring an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its stake in Chevron by 3.6% in the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after acquiring an additional 553 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 380,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on CVX shares. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a report on Friday, March 20th. Mizuho upped their price target on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Tudor Pickering upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a research note on Thursday, April 9th. Scotiabank lifted their price objective on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $206.83.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as being “poised to beat earnings estimates again,” with articles pointing to its strong history of earnings surprises and favorable setup for the next quarterly report. Why Chevron (CVX) is Poised to Beat Earnings Estimates Again
• Positive Sentiment: Reuters-reported news that Chevron is offering its chemical technology to rival shale drillers could support future royalty, service, and technology-related revenue while reinforcing the company’s innovation story. Chevron (CVX) Offers Rival Drillers Chemical Technology to Increase Shale Oil Output, Reuters Reports
• Positive Sentiment: Several analyst and screening pieces continued to frame Chevron as an attractive dividend/blue-chip energy name, with BMO Capital reiterating a Buy rating and other commentary calling it a strong dividend aristocrat pick. BMO Capital Sticks to Its Buy Rating for Chevron (CVX)
• Positive Sentiment: Chevron is also being discussed as a beneficiary of stronger crude prices, which can improve upstream margins and earnings power if oil holds up. Shell, BP, and other energy stocks jump as crude oil prices rebound

Chevron Price Performance

NYSE CVX opened at $181.55 on Thursday. The firm’s fifty day simple moving average is $181.39 and its two-hundred day simple moving average is $182.17. The firm has a market capitalization of $361.58 billion, a P/E ratio of 31.46, a P/E/G ratio of 0.64 and a beta of 0.50. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $2.18 EPS. Analysts forecast that Chevron Corporation will post 14.75 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is presently 123.40%.

Chevron Company Profile

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.