Laffer Tengler Investments Inc. Has $9.11 Million Stock Position in Chevron Corporation $CVX

Laffer Tengler Investments Inc. reduced its position in Chevron Corporation (NYSE:CVX) by 1.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 63,638 shares of the oil and gas company’s stock after selling 866 shares during the quarter. Chevron makes up about 1.6% of Laffer Tengler Investments Inc.’s holdings, making the stock its 20th largest holding. Laffer Tengler Investments Inc.’s holdings in Chevron were worth $9,112,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Vise Technologies Inc. acquired a new position in shares of Chevron in the 2nd quarter valued at about $7,470,000. Cahill Financial Advisors Inc. lifted its stake in shares of Chevron by 17.3% in the 2nd quarter. Cahill Financial Advisors Inc. now owns 3,293 shares of the oil and gas company’s stock valued at $472,000 after purchasing an additional 485 shares during the last quarter. Alpha Cubed Investments LLC boosted its stake in shares of Chevron by 74.5% during the 2nd quarter. Alpha Cubed Investments LLC now owns 150,791 shares of the oil and gas company’s stock worth $21,592,000 after acquiring an additional 64,400 shares in the last quarter. Allworth Financial LP boosted its position in Chevron by 10.7% during the second quarter. Allworth Financial LP now owns 385,131 shares of the oil and gas company’s stock worth $55,147,000 after purchasing an additional 37,331 shares during the period. Finally, Addison Advisors LLC boosted its holdings in shares of Chevron by 6.0% during the 2nd quarter. Addison Advisors LLC now owns 5,293 shares of the oil and gas company’s stock worth $758,000 after buying an additional 298 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Chevron stock opened at $155.10 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 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $268.01 billion, a P/E ratio of 19.96, a PEG ratio of 4.40 and a beta of 0.83. The business has a 50-day moving average of $155.55 and a 200-day moving average of $149.80.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The company had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted $2.48 earnings per share. On average, equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio is presently 96.20%.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on CVX shares. Melius initiated coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company initiated coverage on Chevron in a research note on Friday, October 17th. They set an “overweight” rating and a $190.00 price objective for the company. Barclays cut their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $165.45.

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.