Empowered Funds LLC Has $131.68 Million Position in Chevron Corporation $CVX

Empowered Funds LLC raised its position in Chevron Corporation (NYSE:CVX) by 6.1% in the 2nd quarter, Holdings Channel reports. The firm owned 794,393 shares of the oil and gas company’s stock after buying an additional 45,511 shares during the period. Chevron accounts for approximately 0.7% of Empowered Funds LLC’s investment portfolio, making the stock its 19th biggest holding. Empowered Funds LLC’s holdings in Chevron were worth $131,679,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Midwest Capital Advisors LLC bought a new stake in shares of Chevron in the 1st quarter valued at $25,000. Core Wealth Advisors LLC bought a new position in Chevron during the fourth quarter worth about $26,000. Phillip James Consulting Co. acquired a new position in Chevron in the fourth quarter valued at about $26,000. Basso Capital Management L.P. acquired a new position in Chevron in the fourth quarter valued at about $27,000. Finally, Karpus Management Inc. bought a new stake in shares of Chevron in the fourth quarter worth about $27,000. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CVX shares. Sanford C. Bernstein raised their price target on Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. Mizuho set a $224.00 price target on shares of Chevron in a report on Monday, August 3rd. Finally, Zacks Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $207.48.

Insider Buying and Selling

In related news, Director John B. Hess sold 100,000 shares of Chevron stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the sale, the director owned 178,045 shares of the company’s stock, valued at approximately $34,587,021.70. The trade was a 35.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew Benjamin Walz sold 16,800 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider directly owned 14 shares of the company’s stock, valued at $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,152,582 shares of company stock worth $225,853,661 in the last three months. Insiders own 0.56% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $199.91 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The stock has a market capitalization of $394.98 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.60 and a beta of 0.49. The company has a 50 day moving average of $186.87 and a 200-day moving average of $188.76.

Chevron (NYSE:CVX) last announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm’s revenue was up 57.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.77 earnings per share. As a group, equities research analysts forecast that Chevron Corporation will post 16.17 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $1.78 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. Chevron’s dividend payout ratio (DPR) is presently 68.26%.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.