LifePro Asset Management Increases Stock Position in Chevron Co. (NYSE:CVX)

LifePro Asset Management increased its position in Chevron Co. (NYSE:CVXGet Rating) by 10.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,929 shares of the oil and gas company’s stock after acquiring an additional 1,043 shares during the period. LifePro Asset Management’s holdings in Chevron were worth $1,780,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Chevron by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 32,250,237 shares of the oil and gas company’s stock valued at $3,776,323,000 after buying an additional 667,875 shares during the last quarter. Norges Bank purchased a new stake in Chevron during the 4th quarter valued at $3,111,594,000. Charles Schwab Investment Management Inc. raised its stake in Chevron by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,507,398 shares of the oil and gas company’s stock valued at $1,702,446,000 after buying an additional 254,353 shares during the last quarter. Invesco Ltd. raised its stake in Chevron by 6.8% during the 4th quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock valued at $1,689,870,000 after buying an additional 917,773 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Chevron by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,326,228 shares of the oil and gas company’s stock valued at $977,069,000 after buying an additional 346,881 shares during the last quarter. 65.89% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 1.7 %

Shares of NYSE:CVX opened at $153.64 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20. Chevron Co. has a 12 month low of $92.86 and a 12 month high of $182.40. The company has a 50-day moving average price of $154.37 and a 200 day moving average price of $155.35. The company has a market cap of $301.87 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 0.61 and a beta of 1.15.

Chevron (NYSE:CVXGet Rating) last announced its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $1.16. Chevron had a net margin of 13.45% and a return on equity of 20.19%. The firm had revenue of $68.76 billion during the quarter, compared to the consensus estimate of $57.69 billion. During the same quarter last year, the firm earned $1.71 EPS. The firm’s revenue for the quarter was up 82.9% compared to the same quarter last year. As a group, equities research analysts predict that Chevron Co. will post 17.51 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 19th will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, August 18th. This represents a $5.68 annualized dividend and a dividend yield of 3.70%. Chevron’s dividend payout ratio (DPR) is presently 37.89%.

Analyst Ratings Changes

Several research firms have recently commented on CVX. Truist Financial reduced their price objective on Chevron from $170.00 to $166.00 and set a “hold” rating for the company in a research note on Tuesday, July 19th. Cowen reduced their price objective on Chevron from $179.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, July 1st. Raymond James upped their price objective on Chevron from $173.00 to $191.00 and gave the stock an “outperform” rating in a research note on Monday, April 18th. Societe Generale upgraded Chevron from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Citigroup reduced their price objective on Chevron from $170.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.00.

Insider Activity

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 transaction of $2,134,394.31. Following the completion of the transaction, 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 SEC, which is available through this hyperlink. In related news, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the sale, the director now owns 3,560 shares in the company, valued at approximately $574,762. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wanda M. Austin sold 12,039 shares of the firm’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $177.29, for a total transaction of $2,134,394.31. Following the transaction, the director now directly owns 3,543 shares in the company, valued at approximately $628,138.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 399,043 shares of company stock valued at $67,010,843. 0.32% of the stock is currently owned by insiders.

Chevron Company Profile

(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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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