Insigneo Advisory Services LLC Boosts Holdings in Chevron Co. (NYSE:CVX)

Insigneo Advisory Services LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 7.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,189 shares of the oil and gas company’s stock after purchasing an additional 1,226 shares during the period. Insigneo Advisory Services LLC’s holdings in Chevron were worth $2,679,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its stake in Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after acquiring an additional 874,962 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares during the last quarter. Fisher Asset Management LLC raised its stake in Chevron by 3.6% in the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock valued at $2,869,171,000 after purchasing an additional 672,244 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after purchasing an additional 501,969 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Chevron by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after buying an additional 629,644 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction 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 owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of CVX stock opened at $155.25 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market cap of $279.00 billion, a P/E ratio of 17.06, a P/E/G ratio of 3.50 and a beta of 1.10. The business’s 50 day moving average price is $154.57 and its 200-day moving average price is $152.55.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the previous year, the business posted $3.05 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 10.53 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.20%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Mizuho decreased their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. UBS Group upped their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Scotiabank lowered their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $175.94.

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.