Generali Investments Management Co LLC Has $3.51 Million Holdings in Chevron Corporation $CVX

Generali Investments Management Co LLC grew its position in shares of Chevron Corporation (NYSE:CVX) by 1.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 24,534 shares of the oil and gas company’s stock after acquiring an additional 370 shares during the period. Generali Investments Management Co LLC’s holdings in Chevron were worth $3,508,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ignite Planners LLC boosted its holdings in shares of Chevron by 14.1% during the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after buying an additional 1,519 shares during the period. Vista Capital Partners Inc. lifted its position in Chevron by 9.1% during the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after acquiring an additional 495 shares during the last quarter. GW&K Investment Management LLC boosted its holdings in Chevron by 33.8% during the first quarter. GW&K Investment Management LLC now owns 1,260 shares of the oil and gas company’s stock valued at $211,000 after acquiring an additional 318 shares during the period. Solitude Financial Services boosted its holdings in Chevron by 8.2% during the second quarter. Solitude Financial Services now owns 25,325 shares of the oil and gas company’s stock valued at $3,626,000 after acquiring an additional 1,913 shares during the period. Finally, Mutual Advisors LLC grew its position in shares of Chevron by 7.3% in the second quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock valued at $13,743,000 after purchasing an additional 6,058 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CVX. Evercore ISI restated an “outperform” rating and set a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Bank of America increased their price objective on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Morgan Stanley raised their price objective on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Finally, TD Cowen raised their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $166.55.

Chevron Stock Up 1.3%

Shares of CVX stock opened at $157.61 on Friday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The stock has a fifty day moving average price of $155.26 and a 200 day moving average price of $150.30. The stock has a market cap of $317.35 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The company had revenue of $48.17 billion during 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 revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.48 EPS. Analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s payout ratio is presently 96.20%.

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction 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 directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the 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 transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

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.