FOCUS Wealth Advisors LLC Purchases New Holdings in Chevron Co. (NYSE:CVX)

FOCUS Wealth Advisors LLC purchased a new stake in Chevron Co. (NYSE:CVXGet Rating) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 9,424 shares of the oil and gas company’s stock, valued at approximately $1,364,000. Chevron makes up approximately 0.9% of FOCUS Wealth Advisors LLC’s holdings, making the stock its 28th biggest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Your Advocates Ltd. LLP purchased a new position in Chevron in the 1st quarter worth approximately $25,000. Cordant Inc. purchased a new position in Chevron in the 1st quarter worth approximately $29,000. Joseph P. Lucia & Associates LLC purchased a new position in Chevron in the 1st quarter worth approximately $30,000. Landmark Wealth Management LLC purchased a new position in Chevron in the 1st quarter worth approximately $34,000. Finally, Byrne Asset Management LLC purchased a new position in Chevron in the 4th quarter worth approximately $36,000. 69.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on CVX shares. 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. Wells Fargo & Company increased their price target on Chevron from $181.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, August 1st. Cowen upped their target price on shares of Chevron from $119.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, August 15th. Piper Sandler lifted their price target on shares of Chevron from $189.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, September 12th. Finally, Morgan Stanley upped their price objective on shares of Chevron from $187.00 to $193.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $169.20.

Insider Buying and Selling

In related news, CFO Pierre R. Breber sold 22,500 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $158.11, for a total transaction of $3,557,475.00. Following the completion of the transaction, the chief financial officer now owns 7 shares in the company, valued at $1,106.77. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Chevron news, CFO Pierre R. Breber sold 22,500 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $158.11, for a total value of $3,557,475.00. Following the completion of the transaction, the chief financial officer now owns 7 shares in the company, valued at $1,106.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James William Johnson sold 85,300 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total transaction of $13,990,053.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,732 shares of company stock worth $23,024,499. Corporate insiders own 0.32% of the company’s stock.

Chevron Stock Down 2.6 %

Chevron stock opened at $156.45 on Monday. Chevron Co. has a twelve month low of $93.31 and a twelve month high of $182.40. The stock’s fifty day simple moving average is $154.36 and its 200-day simple moving average is $160.41. The company has a current ratio of 1.31, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $307.39 billion, a P/E ratio of 10.44, a P/E/G ratio of 0.60 and a beta of 1.15.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings data 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. The business had revenue of $68.76 billion for the quarter, compared to analyst estimates of $57.69 billion. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The company’s revenue was up 82.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.71 earnings per share. As a group, equities analysts expect that Chevron Co. will post 18.4 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were paid a dividend of $1.42 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.63%. Chevron’s payout ratio is currently 37.89%.

Chevron Company Profile

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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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