Phoenix Financial Ltd. Has $5.67 Million Stock Position in Chevron Corporation $CVX

Phoenix Financial Ltd. reduced its stake in Chevron Corporation (NYSE:CVX) by 21.0% during the second quarter, Holdings Channel.com reports. The fund owned 39,504 shares of the oil and gas company’s stock after selling 10,505 shares during the period. Phoenix Financial Ltd.’s holdings in Chevron were worth $5,668,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CVX. GAMMA Investing LLC lifted its stake in Chevron by 27.3% in the first quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock valued at $5,408,000 after buying an additional 6,928 shares during the period. Genesee Capital Advisors LLC lifted its stake in Chevron by 2.4% in the first quarter. Genesee Capital Advisors LLC now owns 4,559 shares of the oil and gas company’s stock valued at $763,000 after buying an additional 107 shares during the period. Cherry Creek Investment Advisors Inc. lifted its stake in Chevron by 2.2% in the first quarter. Cherry Creek Investment Advisors Inc. now owns 4,430 shares of the oil and gas company’s stock valued at $741,000 after buying an additional 95 shares during the period. 1858 Wealth Management LLC acquired a new position in Chevron in the first quarter valued at approximately $216,000. Finally, Crumly & Associates Inc. lifted its stake in Chevron by 4.3% in the first quarter. Crumly & Associates Inc. now owns 3,438 shares of the oil and gas company’s stock valued at $575,000 after buying an additional 143 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CVX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Barclays dropped their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Mizuho lowered their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 target price (down from $170.00) on shares of Chevron in a research report on Friday. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Chevron presently has a consensus rating of “Hold” and an average price target of $165.25.

Chevron Trading Up 0.9%

Shares of Chevron stock opened at $154.53 on Tuesday. The stock has a fifty day simple moving average of $156.05 and a 200 day simple moving average of $148.04. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a market capitalization of $267.02 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the company posted $2.55 earnings per share. Chevron’s revenue was down 12.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s dividend payout ratio is 88.03%.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

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.