Global Wealth Management Investment Advisory Inc. Purchases 4,730 Shares of Chevron Corporation $CVX

Global Wealth Management Investment Advisory Inc. increased its position in shares of Chevron Corporation (NYSE:CVX) by 7.0% during the third quarter, HoldingsChannel.com reports. The fund owned 72,617 shares of the oil and gas company’s stock after acquiring an additional 4,730 shares during the period. Chevron makes up approximately 1.9% of Global Wealth Management Investment Advisory Inc.’s holdings, making the stock its 15th largest holding. Global Wealth Management Investment Advisory Inc.’s holdings in Chevron were worth $11,277,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Kingstone Capital Partners Texas LLC increased its holdings in shares of Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares during the period. Norges Bank bought a new stake in Chevron during the second quarter valued at $2,721,477,000. Laurel Wealth Advisors LLC grew its position in Chevron by 14,194.2% during the second quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock worth $532,984,000 after buying an additional 3,696,177 shares in the last quarter. Berkshire Hathaway Inc increased its stake in Chevron by 2.9% in the 2nd quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock worth $17,478,458,000 after acquiring an additional 3,454,258 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Chevron by 4.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock worth $4,979,255,000 after acquiring an additional 1,342,723 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CVX. Hsbc Global Res raised Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Citigroup dropped their target price on shares of Chevron from $185.00 to $179.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Zacks Research raised shares of Chevron from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 23rd. Wells Fargo & Company raised their price objective on shares of Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Finally, Morgan Stanley upped their target price on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron has an average rating of “Hold” and a consensus price target of $167.14.

Chevron Trading Up 0.8%

CVX stock opened at $163.66 on Wednesday. The company has a market capitalization of $329.53 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 10.20 and a beta of 0.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company’s 50 day moving average price is $152.68 and its two-hundred day moving average price is $153.82.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. The company had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.48 EPS. As a group, analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were issued a $1.71 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.2%. Chevron’s payout ratio is currently 96.20%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is in talks to expand its oil license in Venezuela, positioning the company to increase production access in a large, underdeveloped hydrocarbon basin if negotiations succeed. Chevron (CVX) in Talks to Expand Oil License in Venezuela
• Positive Sentiment: Analysts and outlets highlight Chevron as a high-yield energy pick as oil rallies, which supports the stock as an income play and can attract dividend-seeking investors. Oil Is Surging Over $60 – Grab These Large Cap High-Yield Dividend Energy Giants Now
• Positive Sentiment: Fund manager Stephanie Link publicly added to Chevron on CNBC, a visible vote of confidence that can prompt follow-on buying from institutional and retail investors. Trade Tracker: Stephanie Link buys more Chevron
• Positive Sentiment: Chevron says accelerating Venezuelan crude exports could unlock up to ~$700M in annual cash flow by easing storage bottlenecks — a tangible near-term earnings/cash-flow catalyst if realized. Chevron Bets on Venezuela Oil to Unlock Up to $700M in Cash Flow
• Neutral Sentiment: Chevron is reported as part of a bidding/partnership group among frontrunners for Lukoil’s global assets — a move that could expand reserves and international scale but faces regulatory, sanction and execution uncertainty. Carlyle, Chevron-Quantum partnership among frontrunners for Lukoil assets, sources say
• Neutral Sentiment: Coverage pieces (Undercovered Dozen, Dogs of the Dow lists) raise visibility among value/dividend investors but are not immediate operational catalysts. Undercovered Dozen: Chevron, Coherent, Barrick Mining And More The Dogs of the Dow: 10 Downtrodden Dividends Paying Out Up to 6.8%
• Negative Sentiment: Geopolitical instability in Venezuela (reports of violence and U.S. involvement) raises operational, reputational and legal risks for expanding activity there; any deterioration could disrupt projects or trigger sanctions concerns. How Chevron played the long game for Venezuela’s oil reserves Defense Stocks Surge As The U.S. Reasserts Power In Latin America

Insider Buying and Selling

In other Chevron news, insider Alana K. Knowles sold 7,956 shares of Chevron stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $165.05, for a total value of $1,313,137.80. Following the transaction, the insider directly owned 1,207 shares of the company’s stock, valued at $199,215.35. The trade was a 86.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael K. Wirth sold 320,700 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $162.99, for a total value of $52,270,893.00. Following the sale, the chief executive officer directly owned 14,450 shares of the company’s stock, valued at approximately $2,355,205.50. This trade represents a 95.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 631,990 shares of company stock worth $99,716,808. Insiders own 0.20% of the company’s stock.

About Chevron

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.