Capricorn Fund Managers Ltd Trims Stake in Chevron Corporation $CVX

Capricorn Fund Managers Ltd lowered its holdings in Chevron Corporation (NYSE:CVX) by 4.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,182 shares of the oil and gas company’s stock after selling 926 shares during the quarter. Capricorn Fund Managers Ltd’s holdings in Chevron were worth $2,747,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd grew its stake in shares of Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 122 shares in the last quarter. Elequin Capital LP acquired a new stake in shares of Chevron in the first quarter valued at $31,000. Cloud Capital Management LLC acquired a new stake in shares of Chevron in the first quarter valued at $39,000. Investment Management Corp VA ADV grew its stake in shares of Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 149 shares in the last quarter. Finally, Cooksen Wealth LLC acquired a new stake in shares of Chevron in the first quarter valued at $43,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In other news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated 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 directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Chevron Trading Up 0.1%

NYSE:CVX opened at $153.59 on Friday. The stock has a 50-day simple moving average of $156.23 and a 200-day simple moving average of $148.99. The stock has a market cap of $265.40 billion, a P/E ratio of 19.77, a P/E/G ratio of 1.99 and a beta of 0.84. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.55 EPS. As a group, analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is currently 88.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their price objective on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Bank of America boosted their target price on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Evercore ISI reissued an “outperform” rating and set a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Mizuho lowered their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $165.05.

Chevron Company Profile

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.