Insight Wealth Strategies LLC cut its stake in shares of Chevron Co. (NYSE: CVX – Get Rating) by 27.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 209,773 shares of the oil and gas company’s stock after selling 78,647 shares during the period. Chevron makes up 5.0% of Insight Wealth Strategies LLC’s investment portfolio, making the stock its biggest holding. Insight Wealth Strategies LLC’s holdings in Chevron were worth $ 34,157,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Avondale Wealth Management purchased a new position in shares of Chevron during the 4th quarter worth approximately $ 26,000. Rational Advisors LLC raised its stake in shares of Chevron by 116.3% during the 4th quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company’s stock worth $ 26,000 after buying an additional 121 shares in the last quarter. Curi Wealth Management LLC purchased a new position in shares of Chevron during the 4th quarter worth approximately $ 30,000. Byrne Asset Management LLC purchased a new position in shares of Chevron during the 4th quarter worth approximately $ 36,000. Finally, West Bancorporation Inc. purchased a new position in shares of Chevron during the 4th quarter worth approximately $ 37,000. 65.89% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Mark A. Nelson sold 117,400 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $ 159.47, for a total transaction of $ 18,721,778.00. Following the sale, the executive vice president now owns 788 shares in the company, valued at $ 125,662.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Inchausti sold 4,700 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $ 161.09, for a total value of $ 757,123.00. The disclosure for this sale can be found here. Insiders have sold 561,726 shares of company stock worth $ 94,057,396 in the last 90 days. Insiders own 0.32% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Barclays increased their target price on Chevron from $ 183.00 to $ 196.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 31st. Wells Fargo & Company increased their target price on Chevron from $ 150.00 to $ 184.00 and gave the stock an “overweight” rating in a research note on Friday, March 11th. Cowen raised their price objective on Chevron from $ 165.00 to $ 179.00 and gave the company an “outperform” rating in a research note on Tuesday, June 7th. Truist Financial dropped their price objective on Chevron from $ 186.00 to $ 181.00 in a research note on Monday, May 2nd. Finally, Raymond James raised their price objective on Chevron from $ 173.00 to $ 191.00 and gave the company an “outperform” rating in a research note on Monday, April 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $ 169.57.
Shares of NYSE: CVX opened at $ 147.87 on Thursday. The business’s fifty day moving average price is $ 167.41 and its two-hundred day moving average price is $ 149.45. The stock has a market cap of $ 290.54 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 0.67 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43. Chevron Co. has a one year low of $ 92.86 and a one year high of $ 182.40.
Chevron (NYSE: CVX – Get Rating) last posted its quarterly earnings data on Friday, April 29th. The oil and gas company reported $ 3.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $ 3.44 by ($ 0.08). Chevron had a return on equity of 14.66% and a net margin of 11.10%. The business had revenue of $ 54.37 billion for the quarter, compared to analyst estimates of $ 54.96 billion. During the same quarter last year, the business earned $ 0.90 EPS. Chevron’s revenue for the quarter was up 69.8% compared to the same quarter last year. As a group, equities research analysts predict that Chevron Co. will post 17.5 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Thursday, May 19th were issued a dividend of $ 1.42 per share. This represents a $ 5.68 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Wednesday, May 18th. Chevron’s dividend payout ratio (DPR) is 53.38%.
Chevron Profile (Get Rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemical 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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