Insight Wealth Strategies LLC Grows Stake in Chevron Co. (NYSE:CVX)

Insight Wealth Strategies LLC boosted its position in Chevron Co. (NYSE:CVX) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 201,015 shares of the oil and gas company’s stock after buying an additional 1,092 shares during the quarter. Chevron makes up about 3.9% of Insight Wealth Strategies LLC’s holdings, making the stock its 2nd biggest position. Insight Wealth Strategies LLC’s holdings in Chevron were worth $29,115,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Doliver Advisors LP grew its holdings in Chevron by 0.9% in the 4th quarter. Doliver Advisors LP now owns 7,984 shares of the oil and gas company’s stock valued at $1,156,000 after buying an additional 70 shares during the last quarter. Bard Financial Services Inc. boosted its position in shares of Chevron by 0.3% in the fourth quarter. Bard Financial Services Inc. now owns 62,735 shares of the oil and gas company’s stock valued at $9,087,000 after acquiring an additional 200 shares during the period. Neville Rodie & Shaw Inc. grew its stake in shares of Chevron by 2.9% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 62,404 shares of the oil and gas company’s stock worth $9,039,000 after acquiring an additional 1,767 shares during the last quarter. First City Capital Management Inc. increased its position in Chevron by 2.6% during the fourth quarter. First City Capital Management Inc. now owns 19,034 shares of the oil and gas company’s stock worth $2,757,000 after acquiring an additional 485 shares during the period. Finally, Central Pacific Bank Trust Division raised its stake in Chevron by 11.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 15,008 shares of the oil and gas company’s stock valued at $2,174,000 after purchasing an additional 1,521 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the topic of several research analyst reports. Truist Financial raised their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. UBS Group raised their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. Finally, Mizuho lowered their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.19.

Chevron Price Performance

Shares of NYSE:CVX traded down $0.29 on Monday, hitting $147.56. The stock had a trading volume of 3,952,174 shares, compared to its average volume of 5,590,775. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm’s 50 day moving average price is $153.67 and its 200-day moving average price is $151.21. The company has a market capitalization of $265.18 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS 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 company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the previous year, the company earned $3.05 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is presently 71.65%.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the 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 of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Chevron Company Profile

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.