Geneos Wealth Management Inc. Has $8.77 Million Stock Holdings in Chevron Corporation $CVX

Geneos Wealth Management Inc. lifted its position in shares of Chevron Corporation (NYSE:CVX) by 45.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,217 shares of the oil and gas company’s stock after purchasing an additional 19,074 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Chevron were worth $8,766,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. White Knight Strategic Wealth Advisors LLC lifted its holdings in Chevron by 3.0% during the second quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock worth $319,000 after acquiring an additional 65 shares in the last quarter. Rakuten Securities Inc. raised its position in shares of Chevron by 7.4% during the second quarter. Rakuten Securities Inc. now owns 961 shares of the oil and gas company’s stock worth $138,000 after purchasing an additional 66 shares during the period. Analyst IMS Investment Management Services Ltd. lifted its holdings in shares of Chevron by 1.0% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock valued at $966,000 after purchasing an additional 67 shares in the last quarter. Greenfield Savings Bank grew its position in shares of Chevron by 0.6% in the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after purchasing an additional 68 shares during the period. Finally, Atwater Malick LLC grew its position in shares of Chevron by 2.4% in the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after purchasing an additional 68 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of several research analyst reports. Piper Sandler dropped their target price on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a report on Monday, November 10th. Zacks Research lowered shares of Chevron from a “hold” rating to a “strong sell” rating in a report on Monday, November 24th. Morgan Stanley upped their target price on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Mizuho increased their target price on Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Wells Fargo & Company lifted their price target on Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Hold” and a consensus target price of $166.00.

Insider Activity

In other news, Director John B. Hess sold 275,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Down 0.5%

Shares of CVX stock opened at $149.95 on Monday. The firm’s fifty day moving average price is $152.74 and its two-hundred day moving average price is $152.19. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a market capitalization of $301.93 billion, a P/E ratio of 21.09, a PEG ratio of 8.91 and a beta of 0.68.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.14. The company had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.Chevron’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.48 EPS. On average, equities analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. Chevron’s payout ratio is 96.20%.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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 of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.