Wolff Financial Management LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

Wolff Financial Management LLC increased its position in shares of Chevron Co. (NYSE:CVX) by 4.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,292 shares of the oil and gas company’s stock after buying an additional 146 shares during the period. Wolff Financial Management LLC’s holdings in Chevron were worth $410,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Guidant Wealth Advisors increased its position in Chevron by 63.9% during the second quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 101 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new stake in shares of Chevron during the second quarter valued at about $34,000. Cordasco Financial Network increased its position in shares of Chevron by 55.3% during the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock valued at $47,000 after acquiring an additional 135 shares during the last quarter. Thor Advisors LLC acquired a new stake in shares of Chevron during the first quarter valued at about $67,000. Finally, Tributary Capital Management LLC acquired a new stake in shares of Chevron during the fourth quarter valued at about $84,000. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

Chevron stock traded down $0.61 during trading on Wednesday, reaching $118.77. The stock had a trading volume of 1,484,284 shares, compared to its average volume of 4,951,011. Chevron Co. has a 52-week low of $100.22 and a 52-week high of $127.60. The firm has a 50 day moving average of $123.92. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.90 and a current ratio of 1.12. The stock has a market capitalization of $223.94 billion, a PE ratio of 14.40, a PEG ratio of 2.97 and a beta of 1.00.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.53. Chevron had a net margin of 9.18% and a return on equity of 9.61%. The company had revenue of $38.85 billion during the quarter, compared to the consensus estimate of $40.14 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Co. will post 6.77 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a $1.19 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $4.76 dividend on an annualized basis and a yield of 4.01%. Chevron’s dividend payout ratio is currently 57.70%.

A number of brokerages have weighed in on CVX. Cowen reiterated a “buy” rating and set a $142.00 price target on shares of Chevron in a research report on Wednesday, April 17th. Citigroup initiated coverage on shares of Chevron in a research note on Monday, May 13th. They issued a “buy” rating and a $135.00 price objective for the company. Bank of America raised shares of Chevron from a “neutral” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Friday, April 12th. Morgan Stanley lowered their price objective on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Zacks Investment Research lowered shares of Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Chevron has an average rating of “Buy” and an average target price of $135.41.

In other news, Director Enrique Hernandez, Jr. sold 2,100 shares of Chevron stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $121.75, for a total value of $255,675.00. Following the transaction, the director now directly owns 15,689 shares of the company’s stock, valued at approximately $1,910,135.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 4,200 shares of Chevron stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $122.13, for a total transaction of $512,946.00. Following the completion of the transaction, the director now directly owns 15,689 shares in the company, valued at $1,916,097.57. The disclosure for this sale can be found here. Insiders have sold a total of 40,050 shares of company stock valued at $5,007,621 in the last 90 days. Insiders own 0.31% of the company’s stock.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production 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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