Tulsa Wealth Advisors INC Takes Position in Chevron Corporation $CVX

Tulsa Wealth Advisors INC bought a new stake in Chevron Corporation (NYSE:CVX) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 4,290 shares of the oil and gas company’s stock, valued at approximately $711,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC purchased a new position in Chevron in the first quarter valued at $25,000. Core Wealth Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter worth about $26,000. Phillip James Consulting Co. purchased a new stake in shares of Chevron during the 4th quarter worth about $26,000. Basso Capital Management L.P. acquired a new stake in shares of Chevron during the 4th quarter valued at about $27,000. Finally, Karpus Management Inc. acquired a new stake in shares of Chevron during the 4th quarter valued at about $27,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CVX. Morgan Stanley reduced their price target on Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Weiss Ratings raised Chevron from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. TD Cowen boosted their price objective on Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. Finally, Scotiabank upped their target price on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Twenty equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $207.48.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 5,547 shares of Chevron stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the sale, the chief executive officer owned 26,308 shares of the company’s stock, valued at $4,919,596. The trade was a 17.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 710,665 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the sale, the director directly owned 363,711 shares of the company’s stock, valued at $70,596,305.10. The trade was a 66.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,196,212 shares of company stock valued at $231,819,366. 0.56% of the stock is owned by corporate insiders.

Chevron Stock Down 0.0%

CVX stock opened at $199.99 on Monday. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The firm has a 50-day simple moving average of $183.30 and a 200-day simple moving average of $187.01. The stock has a market capitalization of $395.13 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.61 and a beta of 0.49.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same period last year, the company posted $1.77 EPS. Chevron’s quarterly revenue was up 57.4% compared to the same quarter last year. Equities analysts forecast that Chevron Corporation will post 15.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Wednesday, August 19th. Chevron’s payout ratio is presently 68.26%.

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.