Butensky & Cohen Financial Security Inc. Raises Position in Chevron Corporation $CVX

Key Points

• Butensky & Cohen Financial Security Inc. increased its stake in Chevron Corporation by 8.1% in Q2, owning 33,903 shares worth approximately $4.85 million.
• Insider selling included VP Alana K. Knowles, who sold 3,978 shares, and Director John B. Hess, who sold 375,000 shares, indicating a significant reduction in their holdings.
• Chevron reported Q2 earnings of $1.77 per share, surpassing analyst expectations, while revenue decreased 12.4% year-over-year to $44.82 billion.

Butensky & Cohen Financial Security Inc. boosted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 8.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,903 shares of the oil and gas company's stock after buying an additional 2,551 shares during the period. Chevron accounts for approximately 1.4% of Butensky & Cohen Financial Security Inc.'s portfolio, making the stock its 29th largest position. Butensky & Cohen Financial Security Inc.'s holdings in Chevron were worth $4,855,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Bank Pictet & Cie Europe AG lifted its holdings in shares of Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after purchasing an additional 2,641 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of Chevron by 84.5% during the fourth quarter. Two Sigma Investments LP now owns 35,171 shares of the oil and gas company's stock valued at $5,094,000 after purchasing an additional 16,104 shares during the last quarter. Vise Technologies Inc. lifted its holdings in shares of Chevron by 58.5% during the fourth quarter. Vise Technologies Inc. now owns 26,259 shares of the oil and gas company's stock valued at $3,803,000 after purchasing an additional 9,693 shares during the last quarter. Breed s Hill Capital LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $272,000. Finally, Stonebridge Financial Planning Group LLC lifted its holdings in shares of Chevron by 26.7% during the fourth quarter. Stonebridge Financial Planning Group LLC now owns 1,905 shares of the oil and gas company's stock valued at $276,000 after purchasing an additional 401 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 3,978 shares of the business's stock in a transaction 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 completion of the sale, the vice president owned 1,181 shares of the company's stock, valued at $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Hess sold 375,000 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Chevron Price Performance

Shares of CVX opened at $156.11 on Friday. The firm has a market cap of $269.76 billion, a PE ratio of 20.09, a P/E/G ratio of 1.99 and a beta of 0.90. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $155.24 and a two-hundred day simple moving average of $149.00. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results 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. The business had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company's quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.55 EPS. On average, equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders 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 dividend yield of 4.4%. Chevron's payout ratio is presently 88.03%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CVX. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Melius began coverage on shares of Chevron in a report on Wednesday, August 20th. They set a "hold" rating and a $155.00 target price for the company. UBS Group lifted their target price on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Barclays restated an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Finally, Mizuho decreased their price objective on shares of Chevron from $192.00 to $191.00 and set an "outperform" rating for the company in a report on Monday, September 15th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $165.05.

Chevron 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.

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