Chevron Co. (NYSE:CVX) Stake Raised by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,100 shares of the oil and gas company’s stock after acquiring an additional 544 shares during the quarter. Chevron makes up 0.7% of Outlook Wealth Advisors LLC’s investment portfolio, making the stock its 29th largest holding. Outlook Wealth Advisors LLC’s holdings in Chevron were worth $2,362,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. TruNorth Capital Management LLC increased its position in Chevron by 102.0% in the 2nd quarter. TruNorth Capital Management LLC now owns 1,238 shares of the oil and gas company’s stock worth $194,000 after purchasing an additional 625 shares during the last quarter. Sawgrass Asset Management LLC increased its holdings in Chevron by 18.8% in the second quarter. Sawgrass Asset Management LLC now owns 8,883 shares of the oil and gas company’s stock worth $1,389,000 after buying an additional 1,406 shares during the last quarter. Portside Wealth Group LLC raised its position in Chevron by 0.5% during the second quarter. Portside Wealth Group LLC now owns 18,298 shares of the oil and gas company’s stock valued at $2,862,000 after acquiring an additional 92 shares in the last quarter. TriaGen Wealth Management LLC lifted its stake in Chevron by 1.2% in the second quarter. TriaGen Wealth Management LLC now owns 12,267 shares of the oil and gas company’s stock valued at $1,919,000 after acquiring an additional 150 shares during the last quarter. Finally, Miracle Mile Advisors LLC grew its position in Chevron by 3.2% in the second quarter. Miracle Mile Advisors LLC now owns 26,331 shares of the oil and gas company’s stock worth $4,119,000 after acquiring an additional 824 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Chevron Stock Performance

Shares of NYSE CVX traded up $0.47 during mid-day trading on Friday, hitting $147.27. The company had a trading volume of 6,874,416 shares, compared to its average volume of 7,882,654. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The firm has a market cap of $271.41 billion, a P/E ratio of 13.55, a PEG ratio of 2.42 and a beta of 1.10. The business’s 50-day simple moving average is $153.82 and its 200-day simple moving average is $155.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.08 EPS. As a group, analysts predict that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio is 59.98%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent research reports. Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank cut their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Barclays decreased their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Royal Bank of Canada lowered their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Finally, Truist Financial reduced their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

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