Modus Advisors LLC Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Modus Advisors LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,572 shares of the oil and gas company’s stock after buying an additional 166 shares during the quarter. Modus Advisors LLC’s holdings in Chevron were worth $2,450,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CVX. Rebalance LLC purchased a new stake in shares of Chevron in the 4th quarter valued at about $26,000. NewSquare Capital LLC increased its position in Chevron by 52.3% during the first quarter. NewSquare Capital LLC now owns 195 shares of the oil and gas company’s stock worth $32,000 after buying an additional 67 shares during the period. Artemis Wealth Advisors LLC purchased a new stake in Chevron in the first quarter valued at approximately $33,000. Worth Asset Management LLC acquired a new stake in shares of Chevron in the first quarter valued at approximately $36,000. Finally, HBC Financial Services PLLC purchased a new position in shares of Chevron during the first quarter worth approximately $37,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

Insider Transactions at Chevron

In related news, CFO Pierre R. Breber sold 25,000 shares of Chevron stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the completion of the sale, the chief financial officer now owns 6,021 shares in the company, valued at approximately $987,444. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Chevron news, CFO Pierre R. Breber sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the sale, the chief financial officer now directly owns 6,021 shares of the company’s stock, valued at approximately $987,444. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total transaction of $603,300.00. Following the completion of the transaction, the vice president now directly owns 1,718 shares of the company’s stock, valued at approximately $276,391.84. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of a number of recent research reports. Piper Sandler decreased their price target on shares of Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Morgan Stanley raised their price target on Chevron from $197.00 to $198.00 and gave the stock an “equal weight” rating in a report on Friday, August 18th. UBS Group upped their price objective on Chevron from $202.00 to $209.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. StockNews.com initiated coverage on Chevron in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group raised Chevron from a “neutral” rating to a “buy” rating and increased their price target for the stock from $166.00 to $187.00 in a report on Monday, July 31st. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $190.28.

Chevron Price Performance

Chevron stock opened at $167.23 on Friday. The firm has a market capitalization of $312.26 billion, a PE ratio of 10.60, a P/E/G ratio of 0.88 and a beta of 1.18. Chevron Co. has a 52 week low of $140.46 and a 52 week high of $189.68. The firm’s 50-day simple moving average is $160.27 and its 200 day simple moving average is $160.10. The company has a quick ratio of 1.13, a current ratio of 1.43 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.13. Chevron had a net margin of 13.54% and a return on equity of 19.48%. The company had revenue of $48.90 billion for the quarter, compared to the consensus estimate of $48 billion. During the same quarter in the prior year, the firm earned $5.82 earnings per share. The company’s revenue for the quarter was down 28.9% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 13.19 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Thursday, August 17th. Chevron’s payout ratio is 38.30%.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.