CHURCHILL MANAGEMENT Corp Has $1.76 Million Stock Position in Chevron Corporation $CVX

CHURCHILL MANAGEMENT Corp reduced its position in Chevron Corporation (NYSE:CVX) by 2.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 12,278 shares of the oil and gas company’s stock after selling 280 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Chevron were worth $1,758,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. CCG Wealth Management LLC boosted its position in Chevron by 2.3% during the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after acquiring an additional 145 shares during the period. Ignite Planners LLC lifted its position in shares of Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after purchasing an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. lifted its position in shares of Chevron by 9.1% in the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after purchasing an additional 495 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Chevron by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock worth $24,075,000 after purchasing an additional 675 shares during the period. Finally, Capital Advisors Inc. OK grew its position in Chevron by 0.3% during the first quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock valued at $95,231,000 after purchasing an additional 1,755 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.7%

Chevron stock opened at $153.53 on Friday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company’s fifty day moving average price is $156.26 and its two-hundred day moving average price is $149.14. 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 company has a market capitalization of $265.30 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 1.97 and a beta of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings results 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 company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.55 EPS. On average, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have weighed in on CVX shares. Morgan Stanley began coverage on shares of Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Melius initiated coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. Wells Fargo & Company restated an “overweight” rating and issued a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $165.05.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were 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 in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on 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 owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Chevron 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.