Insight Wealth Strategies LLC Buys 5,443 Shares of Chevron Co. (NYSE:CVX)

Insight Wealth Strategies LLC grew its stake in Chevron Co. (NYSE:CVX - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 206,458 shares of the oil and gas company's stock after purchasing an additional 5,443 shares during the period. Chevron makes up approximately 4.6% of Insight Wealth Strategies LLC's holdings, making the stock its largest holding. Insight Wealth Strategies LLC's holdings in Chevron were worth $34,538,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. IMG Wealth Management Inc. acquired a new stake in shares of Chevron during the fourth quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron during the 4th quarter worth approximately $29,000. 10Elms LLP acquired a new stake in Chevron during the 4th quarter valued at $29,000. Fairway Wealth LLC raised its position in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares during the last quarter. Finally, Navigoe LLC bought a new position in Chevron in the 4th quarter valued at $33,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CVX. HSBC lowered Chevron from a "buy" rating to a "hold" rating and lowered their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. UBS Group lowered their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Mizuho reduced their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Finally, DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Trading Down 1.1%

Shares of NYSE:CVX traded down $1.48 during mid-day trading on Friday, reaching $136.43. The stock had a trading volume of 12,856,437 shares, compared to its average volume of 8,115,075. The firm has a 50 day simple moving average of $142.47 and a two-hundred day simple moving average of $150.70. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a market cap of $238.26 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. During the same period last year, the firm posted $2.93 earnings per share. The business's quarterly revenue was down 2.3% compared to the same quarter last year. On average, research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 5.01%. Chevron's payout ratio is 78.17%.

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.