Envestnet Portfolio Solutions Inc. Has $32.11 Million Stake in Chevron Corporation $CVX

Envestnet Portfolio Solutions Inc. lifted its holdings in Chevron Corporation (NYSE:CVX) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 224,229 shares of the oil and gas company’s stock after acquiring an additional 4,566 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Chevron were worth $32,107,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Chevron by 27.3% during the 1st quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock valued at $5,408,000 after acquiring an additional 6,928 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Chevron by 10.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,133,752 shares of the oil and gas company’s stock valued at $189,666,000 after purchasing an additional 104,103 shares in the last quarter. Missouri Trust & Investment Co raised its holdings in shares of Chevron by 0.8% during the first quarter. Missouri Trust & Investment Co now owns 20,009 shares of the oil and gas company’s stock valued at $3,347,000 after purchasing an additional 150 shares during the period. Wilsey Asset Management Inc. grew its stake in shares of Chevron by 0.4% in the 1st quarter. Wilsey Asset Management Inc. now owns 200,641 shares of the oil and gas company’s stock valued at $33,565,000 after buying an additional 771 shares during the period. Finally, Grant Private Wealth Management Inc increased its position in Chevron by 13.2% in the 1st quarter. Grant Private Wealth Management Inc now owns 2,261 shares of the oil and gas company’s stock valued at $378,000 after buying an additional 264 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 1.7%

Chevron stock opened at $149.11 on Monday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The firm’s 50-day simple moving average is $156.10 and its 200 day simple moving average is $148.41. The stock has a market cap of $257.66 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter last year, the firm earned $2.55 EPS. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. Research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio is 88.03%.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research 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 price objective for the company. Wells Fargo & Company restated an “overweight” rating and issued a $178.00 target price on shares of Chevron in a report on Friday, August 1st. Mizuho dropped their price target on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Finally, Scotiabank boosted their price objective on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus target price of $165.40.

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.