Intrua Financial LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX – Get Rating) by 3.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 34,018 shares of the oil and gas company’s stock after purchasing an additional 1,051 shares during the period. Chevron accounts for about 1.0% of Intrua Financial LLC’s portfolio, making the stock its 19th largest position. Intrua Financial LLC’s holdings in Chevron were worth $4,925,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cordant Inc. bought a new position in Chevron during the 1st quarter worth $29,000. Orion Capital Management LLC grew its holdings in shares of Chevron by 85.0% during the 1st quarter. Orion Capital Management LLC now owns 222 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 102 shares in the last quarter. Worth Asset Management LLC bought a new position in shares of Chevron in the first quarter worth $36,000. Win Advisors Inc. raised its stake in Chevron by 61.2% in the second quarter. Win Advisors Inc. now owns 316 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 120 shares in the last quarter. Finally, Rational Advisors LLC lifted its position in Chevron by 46.2% during the first quarter. Rational Advisors LLC now owns 329 shares of the oil and gas company’s stock worth $54,000 after purchasing an additional 104 shares during the period. 69.30% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on CVX shares. Piper Sandler upped their price target on shares of Chevron from $186.00 to $206.00 and gave the stock an “overweight” rating in a report on Friday, November 11th. Cowen lifted their price target on Chevron from $160.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, October 31st. StockNews.com began coverage on Chevron in a report on Wednesday, October 12th. They set a “hold” rating for the company. Credit Suisse Group reaffirmed an “outperform” rating and issued a $202.00 price objective on shares of Chevron in a research note on Thursday, August 11th. Finally, Societe Generale upgraded shares of Chevron from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $179.85.
Chevron Stock Performance
Chevron (NYSE:CVX – Get Rating) last issued its quarterly earnings data on Friday, October 28th. The oil and gas company reported $5.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.22 by $0.34. Chevron had a return on equity of 22.36% and a net margin of 14.36%. The business had revenue of $66.64 billion during the quarter, compared to the consensus estimate of $61.44 billion. During the same period in the previous year, the firm posted $2.96 earnings per share. The business’s revenue was up 49.1% on a year-over-year basis. As a group, equities analysts predict that Chevron Co. will post 19.24 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 18th will be given a $1.42 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $5.68 annualized dividend and a yield of 3.08%. Chevron’s dividend payout ratio (DPR) is currently 32.31%.
Insiders Place Their Bets
In other news, VP R. Hewitt Pate sold 32,391 shares of the firm’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $180.00, for a total transaction of $5,830,380.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP R. Hewitt Pate sold 32,391 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $180.00, for a total value of $5,830,380.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Alice P. Gast sold 2,706 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $179.44, for a total value of $485,564.64. Following the transaction, the director now owns 21,964 shares of the company’s stock, valued at approximately $3,941,220.16. The disclosure for this sale can be found here. Insiders have sold 125,097 shares of company stock worth $22,971,967 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on Chevron (CVX)
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