Insight Inv LLC Acquires 1,694 Shares of Chevron Co. (NYSE:CVX)

Insight Inv LLC raised its holdings in Chevron Co. (NYSE:CVX) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,254 shares of the oil and gas company’s stock after buying an additional 1,694 shares during the quarter. Chevron accounts for approximately 1.8% of Insight Inv LLC’s holdings, making the stock its 13th biggest holding. Insight Inv LLC’s holdings in Chevron were worth $2,644,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Advocate Group LLC grew its holdings in shares of Chevron by 3.6% in the 4th quarter. Advocate Group LLC now owns 62,778 shares of the oil and gas company’s stock worth $9,093,000 after purchasing an additional 2,204 shares during the last quarter. Vantage Wealth grew its holdings in shares of Chevron by 13.0% in the 4th quarter. Vantage Wealth now owns 125,100 shares of the oil and gas company’s stock worth $18,119,000 after purchasing an additional 14,404 shares during the last quarter. Compass Wealth Management LLC grew its holdings in shares of Chevron by 2.4% in the 4th quarter. Compass Wealth Management LLC now owns 44,671 shares of the oil and gas company’s stock worth $6,470,000 after purchasing an additional 1,030 shares during the last quarter. Monte Financial Group LLC grew its holdings in shares of Chevron by 0.3% in the 4th quarter. Monte Financial Group LLC now owns 40,086 shares of the oil and gas company’s stock worth $5,806,000 after purchasing an additional 124 shares during the last quarter. Finally, Grimes & Company Inc. grew its holdings in shares of Chevron by 4.2% in the 4th quarter. Grimes & Company Inc. now owns 62,104 shares of the oil and gas company’s stock worth $8,995,000 after purchasing an additional 2,511 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX opened at $155.62 on Monday. The company has a market capitalization of $279.66 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 1.37 and a beta of 1.12. The firm’s 50 day simple moving average is $153.81 and its 200 day simple moving average is $151.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the company posted $3.05 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.19%. Chevron’s dividend payout ratio is 71.65%.

Analysts Set New Price Targets

CVX has been the topic of several analyst reports. Scotiabank lowered their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Truist Financial increased their price objective on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Royal Bank of Canada increased their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Barclays increased their price objective on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $175.27.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

About Chevron

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.