Geneos Wealth Management Inc. Boosts Stock Holdings in Chevron Corporation (NYSE:CVX)

Key Points

• Geneos Wealth Management Inc. increased its position in Chevron shares by 65.3%, acquiring an additional 25,720 shares in Q1, bringing its total to 65,082 shares valued at approximately $10.89 million.
• Chevron reported Q1 earnings of $2.18 EPS, exceeding the analysts' expectations of $2.15, but its revenue of $47.61 billion fell short of the consensus estimate of $49.05 billion.
• The company declared a quarterly dividend of $1.71 per share, representing an annualized total of $6.84 with a dividend yield of 4.38% as of the latest payment date.

Geneos Wealth Management Inc. boosted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 65.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,082 shares of the oil and gas company's stock after acquiring an additional 25,720 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Chevron were worth $10,888,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CVX. 10Elms LLP bought a new position in shares of Chevron during the 4th quarter worth approximately $29,000. Navigoe LLC purchased a new stake in shares of Chevron during the 4th quarter worth approximately $33,000. IFS Advisors LLC increased its stake in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 116 shares during the last quarter. Cloud Capital Management LLC purchased a new position in Chevron in the 1st quarter valued at approximately $39,000. Finally, Investment Management Corp VA ADV grew its stake in Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock valued at $39,000 after buying an additional 149 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and reduced their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a report on Friday, July 18th. Mizuho lowered their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. BNP Paribas lowered Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Finally, Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $163.18.

Chevron Stock Performance

Chevron stock traded down $0.14 during midday trading on Friday, reaching $151.50. 7,760,854 shares of the company traded hands, compared to its average volume of 9,476,183. The firm has a market capitalization of $264.58 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 2.42 and a beta of 0.83. The business has a 50 day moving average of $146.57 and a two-hundred day moving average of $148.90. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company's quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the firm earned $2.55 earnings per share. As a group, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

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.