Corient Private Wealth LP Has $393.87 Million Stock Holdings in Chevron Corporation $CVX

Corient Private Wealth LP boosted its position in Chevron Corporation (NYSE:CVX) by 3.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,450,647 shares of the oil and gas company’s stock after acquiring an additional 90,619 shares during the quarter. Corient Private Wealth LP’s holdings in Chevron were worth $393,867,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Midwest Capital Advisors LLC acquired a new stake in Chevron in the first quarter valued at approximately $25,000. Core Wealth Advisors LLC acquired a new position in shares of Chevron during the fourth quarter worth approximately $26,000. Phillip James Consulting Co. acquired a new position in shares of Chevron during the fourth quarter worth approximately $26,000. Basso Capital Management L.P. bought a new position in shares of Chevron in the 4th quarter worth $27,000. Finally, Karpus Management Inc. bought a new position in shares of Chevron in the 4th quarter worth $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Michael K. Wirth sold 317,100 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the sale, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Andrew Benjamin Walz sold 16,800 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the sale, the insider owned 14 shares of the company’s stock, valued at approximately $2,814.84. This represents a 99.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,152,582 shares of company stock valued at $225,853,661 over the last quarter. 0.56% of the stock is owned by insiders.

Chevron Stock Up 0.2%

CVX stock opened at $200.26 on Thursday. The firm has a market capitalization of $395.67 billion, a PE ratio of 19.20, a P/E/G ratio of 0.60 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The stock’s 50 day moving average is $186.34 and its 200-day moving average is $188.63.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.Chevron’s revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.77 earnings per share. Sell-side analysts expect that Chevron Corporation will post 16.17 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s payout ratio is currently 68.26%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent research reports. TD Cowen boosted their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Dbs Bank raised shares of Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research note on Friday, July 10th. Weiss Ratings upgraded shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Zacks Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $207.48.

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.