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

Empowered Funds LLC grew its position in Chevron Corporation (NYSE:CVX) by 6.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 794,393 shares of the oil and gas company’s stock after acquiring an additional 45,511 shares during the period. Chevron accounts for 0.7% of Empowered Funds LLC’s portfolio, making the stock its 19th largest holding. Empowered Funds LLC’s holdings in Chevron were worth $131,679,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. BlackRock Inc. bought a new position in Chevron in the 2nd quarter valued at $25,663,729,000. Norges Bank bought a new stake in shares of Chevron during the fourth quarter worth $3,727,586,000. Bank of New York Mellon Corp acquired a new stake in shares of Chevron in the second quarter valued at $2,378,114,000. State Street Corp increased its stake in shares of Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after buying an additional 12,789,399 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Chevron in the second quarter valued at $1,462,412,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVX has been the topic of several research reports. Bank of America upped their price target on shares of Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Wall Street Zen raised shares of Chevron from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Barclays decreased their price target on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Monday, August 17th. Mizuho set a $224.00 price target on shares of Chevron in a report on Monday, August 3rd. Finally, Morgan Stanley boosted their price objective on shares of Chevron from $210.00 to $218.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Twenty research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the transaction, the chief executive officer owned 26,308 shares of the company’s stock, valued at $5,273,701.68. This represents a 92.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider R. Hewitt Pate sold 2,470 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total value of $506,621.70. Following the completion of the transaction, the insider owned 10,794 shares in the company, valued at $2,213,957.34. This represents a 18.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is currently owned by insiders.

Chevron Stock Performance

Shares of NYSE:CVX opened at $199.91 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 1-year low of $146.49 and a 1-year 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 business has a 50-day moving average price of $186.87 and a two-hundred day moving average price of $188.76.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same quarter last year, the firm earned $1.77 EPS. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. Equities analysts predict that Chevron Corporation will post 16.17 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s payout ratio is currently 68.26%.

About Chevron

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.