D L Carlson Investment Group Inc. Sells 1,230 Shares of Chevron Corporation $CVX

D L Carlson Investment Group Inc. cut its position in shares of Chevron Corporation (NYSE:CVX) by 38.7% in the second quarter, Holdings Channel.com reports. The firm owned 1,945 shares of the oil and gas company’s stock after selling 1,230 shares during the quarter. D L Carlson Investment Group Inc.’s holdings in Chevron were worth $279,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC grew its stake in shares of Chevron by 652,139.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after buying an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 4.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock worth $4,979,255,000 after acquiring an additional 1,342,723 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Chevron by 1.9% during the 2nd quarter. Fisher Asset Management LLC now owns 20,826,805 shares of the oil and gas company’s stock valued at $2,982,190,000 after acquiring an additional 378,936 shares during the period. Norges Bank purchased a new position in Chevron during the 2nd quarter valued at $2,721,477,000. Finally, Franklin Resources Inc. grew its position in Chevron by 2.1% in the 2nd quarter. Franklin Resources Inc. now owns 17,764,589 shares of the oil and gas company’s stock valued at $2,543,712,000 after acquiring an additional 370,287 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In related news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director directly owned 1,128,045 shares in the company, valued at $170,052,783.75. This represents a 19.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.21% of the company’s stock.

Chevron Trading Up 0.9%

NYSE:CVX opened at $152.53 on Tuesday. The firm has a 50-day simple moving average of $153.90 and a 200-day simple moving average of $151.37. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market cap of $307.12 billion, a P/E ratio of 19.63, a P/E/G ratio of 4.40 and a beta of 0.83. 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, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the firm earned $2.48 earnings per share. Equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CVX shares. HSBC set a $169.00 target price on Chevron and gave the stock a “buy” rating in a research report on Monday. Melius began coverage on shares of 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 upped their target price on shares of Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. TD Cowen raised their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Finally, Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $166.16.

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; 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.