Geneos Wealth Management Inc. Sells 3,029 Shares of Chevron Corporation $CVX

Geneos Wealth Management Inc. cut its position in Chevron Corporation (NYSE:CVX) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,781 shares of the oil and gas company’s stock after selling 3,029 shares during the period. Geneos Wealth Management Inc.’s holdings in Chevron were worth $18,369,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Midwest Capital Advisors LLC bought a new stake in shares of Chevron during the first quarter worth $25,000. Core Wealth Advisors LLC bought a new stake in Chevron in the fourth quarter valued at about $26,000. Phillip James Consulting Co. bought a new stake in Chevron in the fourth quarter valued at about $26,000. Basso Capital Management L.P. bought a new stake in shares of Chevron in the 4th quarter valued at about $27,000. Finally, Karpus Management Inc. acquired a new stake in Chevron in the fourth quarter worth $27,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Shares of NYSE:CVX opened at $181.55 on Thursday. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The company’s 50 day moving average price is $181.39 and its two-hundred day moving average price is $182.17. The firm has a market cap of $361.58 billion, a PE ratio of 31.46, a PEG ratio of 0.64 and a beta of 0.50. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.18 earnings per share. Equities research analysts predict that Chevron Corporation will post 14.75 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio is presently 123.40%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as being “poised to beat earnings estimates again,” with articles pointing to its strong history of earnings surprises and favorable setup for the next quarterly report. Why Chevron (CVX) is Poised to Beat Earnings Estimates Again
• Positive Sentiment: Reuters-reported news that Chevron is offering its chemical technology to rival shale drillers could support future royalty, service, and technology-related revenue while reinforcing the company’s innovation story. Chevron (CVX) Offers Rival Drillers Chemical Technology to Increase Shale Oil Output, Reuters Reports
• Positive Sentiment: Several analyst and screening pieces continued to frame Chevron as an attractive dividend/blue-chip energy name, with BMO Capital reiterating a Buy rating and other commentary calling it a strong dividend aristocrat pick. BMO Capital Sticks to Its Buy Rating for Chevron (CVX)
• Positive Sentiment: Chevron is also being discussed as a beneficiary of stronger crude prices, which can improve upstream margins and earnings power if oil holds up. Shell, BP, and other energy stocks jump as crude oil prices rebound

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a report on Friday, March 20th. Sanford C. Bernstein decreased their price objective on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a report on Monday, May 11th. TD Cowen boosted their target price on shares of Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Barclays upped their price objective on Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Finally, Jefferies Financial Group restated a “buy” rating and set a $216.00 target price on shares of Chevron in a research note on Friday, July 10th. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $206.83.

Chevron Company Profile

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.