Geneos Wealth Management Inc. Has $8.77 Million Holdings in Chevron Corporation $CVX

Geneos Wealth Management Inc. increased its position in shares of Chevron Corporation (NYSE:CVX) by 45.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,217 shares of the oil and gas company’s stock after acquiring an additional 19,074 shares during the period. Geneos Wealth Management Inc.’s holdings in Chevron were worth $8,766,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Elequin Capital LP acquired a new stake in Chevron in the first quarter valued at about $31,000. Quaker Wealth Management LLC raised its stake in Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 439 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of Chevron by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 118 shares during the last quarter. IMG Wealth Management Inc. boosted its stake in shares of Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 91 shares in the last quarter. Finally, GFG Capital LLC acquired a new stake in shares of Chevron in the 2nd quarter valued at approximately $42,000. 72.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director John B. Hess sold 275,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the transaction, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. The trade was a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

Chevron Trading Down 0.5%

Shares of CVX stock opened at $149.95 on Monday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The stock has a market cap of $301.93 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 8.91 and a beta of 0.68. The stock has a 50-day moving average of $152.74 and a 200-day moving average of $152.19.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The firm’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.48 earnings per share. On average, equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were given a dividend of $1.71 per share. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. Chevron’s dividend payout ratio is 96.20%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CVX shares. Bank of America lowered their price target on shares of Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a report on Thursday. HSBC set a $169.00 target price on Chevron and gave the stock a “buy” rating in a report on Monday, December 1st. Hsbc Global Res raised Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. UBS Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, December 1st. Finally, Scotiabank raised their price objective on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $166.00.

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.