Insight Wealth Strategies LLC Has $31.67 Million Stake in Chevron Corporation $CVX

Insight Wealth Strategies LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 5.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 217,541 shares of the oil and gas company’s stock after purchasing an additional 11,083 shares during the period. Chevron accounts for approximately 4.0% of Insight Wealth Strategies LLC’s holdings, making the stock its largest position. Insight Wealth Strategies LLC’s holdings in Chevron were worth $31,668,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd boosted its stake in shares of Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 122 shares during the period. Elequin Capital LP bought a new stake in shares of Chevron in the first quarter worth $31,000. 10Elms LLP bought a new stake in Chevron during the fourth quarter valued at $29,000. IFS Advisors LLC boosted its position in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new position in shares of Chevron during the 1st quarter worth about $39,000. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $157.23 on Friday. The firm has a 50 day moving average price of $154.67 and a 200-day moving average price of $148.85. The firm has a market capitalization of $271.69 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 2.00 and a beta of 0.90. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the firm earned $2.55 earnings per share. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. Equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron’s dividend payout ratio (DPR) is 88.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Scotiabank restated a “sector perform” rating and issued a $160.00 target price (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Morgan Stanley started coverage on shares of Chevron in a report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective for the company. Melius Research started coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Finally, Barclays reissued an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $164.80.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

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.