Objective Capital Management LLC lessened its position in shares of Chevron Co. (NYSE:CVX – Free Report) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,419 shares of the oil and gas company’s stock after selling 99 shares during the quarter. Objective Capital Management LLC’s holdings in Chevron were worth $395,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. Cantor Fitzgerald Investment Advisor L.P increased its position in Chevron by 85.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after buying an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC grew its position in shares of Chevron by 25.2% during the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after purchasing an additional 1,476 shares in the last quarter. GQG Partners LLC grew its position in shares of Chevron by 4.7% during the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after purchasing an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC grew its position in shares of Chevron by 43.5% during the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after purchasing an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of Chevron by 13.8% during the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after purchasing an additional 250,840 shares in the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.
Insiders Place Their Bets
In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total transaction of $603,300.00. Following the transaction, the vice president now directly owns 1,718 shares in the company, valued at approximately $276,391.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total transaction of $603,300.00. Following the transaction, the vice president now directly owns 1,718 shares in the company, valued at approximately $276,391.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Pierre R. Breber sold 25,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $164.00, for a total value of $4,100,000.00. Following the transaction, the chief financial officer now owns 6,021 shares in the company, valued at $987,444. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on CVX. Royal Bank of Canada upgraded Chevron from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $165.00 to $180.00 in a research report on Thursday, June 1st. StockNews.com assumed coverage on Chevron in a research report on Thursday, August 17th. They set a “hold” rating for the company. The Goldman Sachs Group raised Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $166.00 to $187.00 in a research note on Monday, July 31st. Mizuho raised Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $205.00 to $209.00 in a research note on Wednesday, August 16th. Finally, JPMorgan Chase & Co. raised Chevron from an “underweight” rating to a “neutral” rating and increased their price target for the company from $161.00 to $170.00 in a research note on Wednesday, May 31st. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $190.28.
Chevron Trading Up 2.0 %
Shares of CVX stock traded up $3.15 on Friday, reaching $164.25. 3,636,819 shares of the company’s stock were exchanged, compared to its average volume of 7,945,572. Chevron Co. has a 52 week low of $140.46 and a 52 week high of $189.68. The company has a current ratio of 1.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $306.69 billion, a PE ratio of 10.32, a P/E/G ratio of 0.85 and a beta of 1.17. The company’s fifty day simple moving average is $158.38 and its 200 day simple moving average is $160.08.
Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.13. Chevron had a return on equity of 19.48% and a net margin of 13.54%. The firm had revenue of $48.90 billion during the quarter, compared to analyst estimates of $48 billion. During the same period last year, the company earned $5.82 EPS. Chevron’s quarterly revenue was down 28.9% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 13.19 EPS for the current year.
Chevron Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 18th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Thursday, August 17th. Chevron’s dividend payout ratio is currently 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.
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