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

Corient Private Wealth LP grew its position in Chevron Corporation (NYSE:CVX) by 3.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,450,647 shares of the oil and gas company’s stock after acquiring an additional 90,619 shares during the period. Corient Private Wealth LP owned 0.12% of Chevron worth $393,867,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Chevron in the 2nd quarter worth about $25,663,729,000. Norges Bank bought a new position in Chevron in the fourth quarter valued at about $3,727,586,000. Bank of New York Mellon Corp acquired a new stake in shares of Chevron during the second quarter valued at about $2,378,114,000. State Street Corp boosted its stake in shares of Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Chevron during the second quarter worth about $1,462,412,000. 72.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 317,100 shares of Chevron 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. The trade was a 92.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John B. Hess sold 710,665 shares of Chevron stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the sale, the director owned 363,711 shares of the company’s stock, valued at $70,596,305.10. This represents a 66.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,152,582 shares of company stock valued at $225,853,661 in the last ninety days. 0.56% of the stock is owned by corporate insiders.

Chevron Stock Performance

Shares of Chevron stock opened at $200.26 on Thursday. The business has a 50-day moving average price of $186.34 and a two-hundred day moving average price of $188.63. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The company has a market cap of $395.67 billion, a P/E ratio of 19.20, a PEG ratio of 0.60 and a beta of 0.49.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. During the same period in the previous year, the business earned $1.77 EPS. The firm’s revenue was up 57.4% compared to the same quarter last year. As a group, analysts anticipate that Chevron Corporation will post 16.17 EPS for the current year.

Chevron Dividend Announcement

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

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. TD Cowen upped their price objective on Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. Barclays reduced their target price on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating on the stock in a report on Monday, August 17th. Piper Sandler began coverage on shares of Chevron in a research report on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 price target for the company. Finally, Sanford C. Bernstein raised their price target on shares of Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Twenty equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

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.