Insight Folios Inc Grows Holdings in Chevron Co. (NYSE:CVX)

Insight Folios Inc grew its stake in shares of Chevron Co. (NYSE:CVX) by 7.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,287 shares of the oil and gas company’s stock after buying an additional 3,226 shares during the quarter. Chevron accounts for 2.5% of Insight Folios Inc’s investment portfolio, making the stock its 20th biggest position. Insight Folios Inc’s holdings in Chevron were worth $6,964,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in CVX. Anfield Capital Management LLC raised its stake in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC grew its holdings in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in Chevron in the 3rd quarter worth $47,000. Livelsberger Financial Advisory bought a new stake in Chevron in the third quarter worth $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in Chevron during the first quarter valued at about $55,000. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVX. Wells Fargo & Company lowered their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Mizuho lowered their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Scotiabank decreased their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, UBS Group increased their price target on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $173.07.

Chevron Price Performance

Shares of NYSE CVX opened at $150.81 on Monday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a market capitalization of $275.82 billion, a P/E ratio of 14.93, a P/E/G ratio of 3.29 and a beta of 1.09. The company’s 50-day moving average is $146.59 and its 200 day moving average is $153.23. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $3.08 EPS. On average, sell-side analysts expect that Chevron Co. will post 10.86 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 64.55%.

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.