Insight Folios Inc Raises Position in Chevron Co. (NYSE:CVX)

Insight Folios Inc grew its holdings in Chevron Co. (NYSE:CVXGet Rating) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 52,987 shares of the oil and gas company’s stock after purchasing an additional 1,377 shares during the period. Chevron makes up about 3.7% of Insight Folios Inc’s portfolio, making the stock its 3rd biggest position. Insight Folios Inc’s holdings in Chevron were worth $7,680,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Secure Asset Management LLC grew its position in Chevron by 15.7% during the 1st quarter. Secure Asset Management LLC now owns 4,382 shares of the oil and gas company’s stock worth $713,000 after acquiring an additional 593 shares during the last quarter. Rothschild Investment Corp IL grew its position in Chevron by 0.6% during the 2nd quarter. Rothschild Investment Corp IL now owns 134,756 shares of the oil and gas company’s stock worth $19,510,000 after acquiring an additional 748 shares during the last quarter. S.C. Financial Services Inc. grew its position in Chevron by 12.3% during the 2nd quarter. S.C. Financial Services Inc. now owns 3,880 shares of the oil and gas company’s stock worth $562,000 after acquiring an additional 424 shares during the last quarter. Guinness Atkinson Asset Management Inc grew its position in Chevron by 26.4% during the 1st quarter. Guinness Atkinson Asset Management Inc now owns 6,346 shares of the oil and gas company’s stock worth $1,033,000 after acquiring an additional 1,326 shares during the last quarter. Finally, Sound Income Strategies LLC grew its position in shares of Chevron by 15.9% in the 2nd quarter. Sound Income Strategies LLC now owns 2,879 shares of the oil and gas company’s stock valued at $417,000 after buying an additional 395 shares during the last quarter. Institutional investors own 69.30% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of analyst reports. Citigroup reduced their price target on Chevron from $170.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 13th. Cowen boosted their price objective on Chevron from $119.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, August 15th. Wells Fargo & Company boosted their price objective on Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, August 1st. Morgan Stanley boosted their price objective on Chevron from $187.00 to $193.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 6th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $202.00 price objective on shares of Chevron in a research note on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $169.20.

Insider Buying and Selling at Chevron

In other Chevron news, CFO Pierre R. Breber sold 22,500 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $158.11, for a total transaction of $3,557,475.00. Following the completion of the transaction, the chief financial officer now directly owns 7 shares of the company’s stock, valued at $1,106.77. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Chevron news, CFO Pierre R. Breber sold 22,500 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $158.11, for a total transaction of $3,557,475.00. Following the sale, the chief financial officer now owns 7 shares in the company, valued at $1,106.77. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Wanda M. Austin sold 11,432 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $161.45, for a total value of $1,845,696.40. Following the sale, the director now owns 3,560 shares in the company, valued at approximately $574,762. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,732 shares of company stock valued at $23,024,499. Company insiders own 0.32% of the company’s stock.

Chevron Stock Performance

CVX stock opened at $155.01 on Thursday. The firm has a market cap of $304.57 billion, a PE ratio of 10.34, a P/E/G ratio of 0.61 and a beta of 1.15. The company has a quick ratio of 1.11, a current ratio of 1.31 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average of $155.36 and a 200-day moving average of $160.36. Chevron Co. has a 12-month low of $96.24 and a 12-month high of $182.40.

Chevron (NYSE:CVXGet Rating) last announced its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, beating the consensus estimate of $4.66 by $1.16. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The business had revenue of $68.76 billion during the quarter, compared to analyst estimates of $57.69 billion. During the same period in the prior year, the company earned $1.71 earnings per share. Chevron’s revenue was up 82.9% compared to the same quarter last year. As a group, sell-side analysts expect that Chevron Co. will post 18.37 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.66%. The ex-dividend date was Thursday, August 18th. Chevron’s dividend payout ratio (DPR) is 37.89%.

About Chevron

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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.

See Also

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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