Insight Wealth Partners LLC Raises Stake in Chevron Co. (NYSE:CVX)

Insight Wealth Partners LLC raised its stake in Chevron Co. (NYSE:CVXGet Rating) by 77.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,151 shares of the oil and gas company’s stock after buying an additional 1,375 shares during the quarter. Insight Wealth Partners LLC’s holdings in Chevron were worth $456,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Your Advocates Ltd. LLP purchased a new stake in Chevron in the 1st quarter valued at $25,000. Cordant Inc. purchased a new stake in Chevron in the 1st quarter valued at $29,000. Joseph P. Lucia & Associates LLC purchased a new stake in Chevron in the 1st quarter valued at $30,000. Landmark Wealth Management LLC purchased a new position in shares of Chevron during the 1st quarter worth $34,000. Finally, Byrne Asset Management LLC purchased a new position in shares of Chevron during the 4th quarter worth $36,000. 69.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $164.01, for a total transaction of $13,990,053.00. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Pierre R. Breber sold 22,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $161.39, for a total transaction of $3,631,275.00. Following the transaction, the chief financial officer now owns 7 shares in the company, valued at approximately $1,129.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James William Johnson sold 85,300 shares of Chevron stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total value of $13,990,053.00. The disclosure for this sale can be found here. Insiders have sold 141,732 shares of company stock worth $23,024,499 in the last quarter. 0.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Credit Suisse Group reiterated an “outperform” rating and set a $202.00 price target on shares of Chevron in a report on Thursday, August 11th. Cowen increased their price target on Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, August 15th. Barclays increased their price target on Chevron from $183.00 to $196.00 and gave the stock an “overweight” rating in a report on Tuesday, May 31st. Citigroup lowered their price target on Chevron from $170.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 13th. Finally, Morgan Stanley increased their price target on Chevron from $187.00 to $193.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $169.20.

Chevron Trading Down 0.1 %

CVX opened at $154.89 on Friday. Chevron Co. has a one year low of $97.75 and a one year high of $182.40. The company has a market cap of $304.33 billion, a P/E ratio of 10.33, a PEG ratio of 0.60 and a beta of 1.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.31. The business’s 50-day simple moving average is $155.74 and its 200-day simple moving average is $160.31.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings data 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 return on equity of 19.73% and a net margin of 13.45%. The business had revenue of $68.76 billion for the quarter, compared to the consensus estimate of $57.69 billion. During the same quarter in the prior year, the business posted $1.71 EPS. The business’s revenue for the quarter was up 82.9% on a year-over-year basis. As a group, equities research analysts expect that Chevron Co. will post 18.37 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were paid a dividend of $1.42 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a yield of 3.67%. Chevron’s dividend payout ratio is presently 37.89%.

Chevron Company Profile

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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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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