Hodges Capital Management Inc. Has $776,000 Stock Position in Chevron Corporation $CVX

Hodges Capital Management Inc. cut its stake in shares of Chevron Corporation (NYSE:CVX) by 8.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,420 shares of the oil and gas company’s stock after selling 519 shares during the period. Hodges Capital Management Inc.’s holdings in Chevron were worth $776,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Analyst IMS Investment Management Services Ltd. increased its holdings in Chevron by 1.0% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock worth $966,000 after purchasing an additional 67 shares in the last quarter. Greenfield Savings Bank grew its holdings in shares of Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after purchasing an additional 68 shares during the last quarter. Atwater Malick LLC increased its stake in shares of Chevron by 2.4% in the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after buying an additional 68 shares during the period. Hubbell Strickland Wealth Management LLC raised its holdings in Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock valued at $1,443,000 after buying an additional 68 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in Chevron by 10.3% in the 2nd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $155.65 on Tuesday. The company has a market capitalization of $268.96 billion, a PE ratio of 20.03, a P/E/G ratio of 4.40 and a beta of 0.83. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a fifty day simple moving average of $155.45 and a 200 day simple moving average of $149.92.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter in the prior year, the firm posted $2.48 earnings per share. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CVX. Wall Street Zen upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research report on Saturday. Melius assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Morgan Stanley increased their price objective on Chevron from $174.00 to $177.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. TD Cowen lifted their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $165.45.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on 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 owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.