Chevron Co. (NYSE:CVX) is Insight Wealth Strategies LLC’s 2nd Largest Position

Insight Wealth Strategies LLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 186,676 shares of the oil and gas company’s stock after acquiring an additional 2,254 shares during the quarter. Chevron makes up 4.3% of Insight Wealth Strategies LLC’s portfolio, making the stock its 2nd biggest position. Insight Wealth Strategies LLC’s holdings in Chevron were worth $29,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Renaissance Investment Group LLC boosted its stake in Chevron by 12.7% during the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after acquiring an additional 697 shares during the last quarter. Camelot Portfolios LLC acquired a new stake in shares of Chevron during the fourth quarter worth $254,000. Kapstone Financial Advisors LLC raised its holdings in shares of Chevron by 5.3% during the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after purchasing an additional 211 shares during the period. Guyasuta Investment Advisors Inc. raised its holdings in shares of Chevron by 1.7% during the fourth quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock worth $32,307,000 after purchasing an additional 3,603 shares during the period. Finally, Seven Mile Advisory raised its holdings in shares of Chevron by 9.8% during the fourth quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 247 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the transaction, the director now owns 27,725 shares in the company, valued at approximately $4,581,279. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the transaction, the director now owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,546 shares of company stock valued at $3,176,223. Company insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.1 %

Chevron stock opened at $153.33 on Thursday. The stock has a market cap of $282.58 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 2.28 and a beta of 1.12. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $159.43 and its two-hundred day moving average price is $154.04. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the company earned $3.55 EPS. On average, analysts expect that Chevron Co. will post 13.45 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.25%. Chevron’s payout ratio is 59.98%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Mizuho increased their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. HSBC increased their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. Truist Financial increased their target price on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

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.