Engrave Wealth Partners LLC Raises Stake in Chevron Co. (NYSE:CVX)

Engrave Wealth Partners LLC grew its position in Chevron Co. (NYSE:CVXGet Rating) by 24.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,018 shares of the oil and gas company’s stock after acquiring an additional 9,581 shares during the period. Chevron comprises 3.1% of Engrave Wealth Partners LLC’s portfolio, making the stock its 11th largest holding. Engrave Wealth Partners LLC’s holdings in Chevron were worth $7,097,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Your Advocates Ltd. LLP purchased a new stake in Chevron during the first quarter worth about $25,000. Cordant Inc. purchased a new stake in Chevron during the first quarter worth about $29,000. Joseph P. Lucia & Associates LLC purchased a new stake in Chevron during the first quarter worth about $30,000. Landmark Wealth Management LLC purchased a new stake in Chevron during the first quarter worth about $34,000. Finally, Byrne Asset Management LLC purchased a new stake in Chevron during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 69.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVX. Cowen lifted their target price on shares of Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, August 15th. Bank of America boosted their price objective on shares of Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, August 1st. Wells Fargo & Company boosted their price objective on shares of Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, August 1st. Barclays upped their price target on shares of Chevron from $183.00 to $196.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 31st. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $202.00 price target on shares of Chevron in a research report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $169.20.

Insiders Place Their Bets

In other Chevron news, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction on Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the sale, the director now owns 3,560 shares in the company, valued at $574,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Chevron news, EVP James William Johnson sold 85,300 shares of Chevron stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $164.01, for a total transaction of $13,990,053.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction on Monday, August 1st. The shares were sold at an average price of $161.45, for a total value of $1,845,696.40. Following the transaction, the director now directly owns 3,560 shares of the company’s stock, valued at $574,762. The disclosure for this sale can be found here. Insiders have sold 141,732 shares of company stock worth $23,024,499 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Chevron Trading Down 0.1 %

Shares of CVX stock opened at $154.89 on Friday. The business’s 50 day moving average is $155.74 and its two-hundred day moving average is $160.31. The company has a market cap of $304.33 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 0.60 and a beta of 1.15. The company has a quick ratio of 1.11, a current ratio of 1.31 and a debt-to-equity ratio of 0.15. Chevron Co. has a 12 month low of $97.75 and a 12 month high of $182.40.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $1.16. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The firm had revenue of $68.76 billion for the quarter, compared to the consensus estimate of $57.69 billion. During the same quarter in the previous year, the company earned $1.71 earnings per share. The business’s revenue was up 82.9% compared to the same quarter last year. Equities analysts predict that Chevron Co. will post 18.37 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were paid a dividend of $1.42 per share. The ex-dividend date was Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a yield of 3.67%. Chevron’s dividend payout ratio is currently 37.89%.

About Chevron

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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