Insight Wealth Strategies LLC reduced its stake in shares of Chevron Co. (NYSE: CVX – Get Rating) by 27.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 209,773 shares of the oil and gas company stock after selling 78,647 shares during the quarter. Chevron accounts for 5.0% of Insight Wealth Strategies LLC’s holdings, making the stock its largest position. Insight Wealth Strategies LLC’s holdings in Chevron were worth $ 34,157,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. Selway Asset Management grew its holdings in Chevron by 1.9% in the first quarter. Selway Asset Management now owns 21,035 shares of the oil and gas company stock valued at $ 3,425,000 after purchasing an additional 400 shares during the period. Okabena Investment Services Inc. acquired a new stake in Chevron in the fourth quarter valued at approximately $ 41,000. Cantor Fitzgerald Investment Adviser LP grew its holdings in Chevron by 1.4% in the fourth quarter. Cantor Fitzgerald Investment Adviser LP now owns 85,974 shares of the oil and gas company stock valued at $ 10,089,000 after purchasing an additional 1,176 shares during the period. Greystone Financial Group LLC grew its holdings in Chevron by 9.6% in the fourth quarter. Greystone Financial Group LLC now owns 63,741 shares of the oil and gas company stock valued at $ 7,480,000 after purchasing an additional 5,573 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in Chevron by 7.4% in the fourth quarter. Retirement Systems of Alabama now owns 1,479,134 shares of the oil and gas company stock valued at $ 173,576,000 after purchasing an additional 102,112 shares during the period. Institutional investors own 65.89% of the company stock.
NYSE CVX opened at $ 147.87 on Thursday. The stock’s fifty day moving average is $ 167.41 and its two-hundred day moving average is $ 149.45. The firm has a market capitalization of $ 290.54 billion, a P / E ratio of 13.90, a price-to-earnings-growth ratio of 0.67 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43. Chevron Co. has a fifty-two week low of $ 92.86 and a fifty-two week high of $ 182.40.
Chevron (NYSE: CVX – Get Rating) last posted its earnings results on Friday, April 29th. The oil and gas company reported $ 3.36 EPS for the quarter, missing analysts’ consensus estimates of $ 3.44 by ($ 0.08). Chevron had a net margin of 11.10% and a return on equity of 14.66%. The business had revenue of $ 54.37 billion during the quarter, compared to analysts’ expectations of $ 54.96 billion. During the same quarter in the prior year, the firm earned $ 0.90 EPS. Chevron’s revenue for the quarter was up 69.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Co. will post 17.5 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 19th were given a $ 1.42 dividend. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $ 5.68 dividend on an annualized basis and a yield of 3.84%. Chevron’s dividend payout ratio is currently 53.38%.
Several analysts have commented on CVX shares. Morgan Stanley dropped their price objective on Chevron from $ 188.00 to $ 185.00 and set an “equal weight” rating on the stock in a report on Monday, June 6th. JPMorgan Chase & Co. lowered Chevron from a “neutral” rating to an “underweight” rating and set a $ 169.00 price target on the stock. in a research note on Friday, March 11th. Royal Bank of Canada lowered Chevron from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $ 160.00 to $ 165.00 in a research note on Thursday, April 21st. UBS Group lifted their price target on Chevron from $ 150.00 to $ 192.00 and gave the stock a “buy” rating in a research note on Tuesday, April 5th. Finally, Citigroup lifted their price target on Chevron from $ 160.00 to $ 170.00 and gave the stock a “neutral” rating in a research note on Thursday, May 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $ 169.57.
In related news, Director Wanda M. Austin sold 12,039 shares of the business’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $ 177.29, for a total value of $ 2,134,394.31. Following the sale, the director now owns 3,543 shares in the company, valued at approximately $ 628,138.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Enrique Hernandez, Jr. sold 11,799 shares of the business’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $ 175.00, for a total value of $ 2,064,825.00. Following the completion of the sale, the director now owns 24,281 shares in the company, valued at approximately $ 4,249,175. The disclosure for this sale can be found here. Insiders sold 561,726 shares of company stock worth $ 94,057,396 in the last 90 days. Company insiders own 0.32% of the company stock.
About Chevron: (Get Rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 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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