SFE Investment Counsel Lowers Stake in Chevron Corporation $CVX

SFE Investment Counsel cut its stake in Chevron Corporation (NYSE:CVX) by 11.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,017 shares of the oil and gas company’s stock after selling 1,960 shares during the period. SFE Investment Counsel’s holdings in Chevron were worth $2,150,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CVX. Kingstone Capital Partners Texas LLC increased its position in shares of Chevron by 652,139.5% during the 2nd 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 purchasing an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after buying an additional 1,574,464 shares in the last quarter. Invesco Ltd. grew its position in Chevron by 5.5% during the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after acquiring an additional 827,851 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Chevron by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock valued at $2,054,513,000 after acquiring an additional 40,758 shares during the last quarter. Finally, GQG Partners LLC purchased a new position in shares of Chevron during the first quarter worth approximately $1,466,751,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.4%

CVX opened at $155.10 on Friday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. 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 business has a 50 day simple moving average of $155.55 and a two-hundred day simple moving average of $149.71. The firm has a market capitalization of $268.01 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 4.40 and a beta of 0.83.

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

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s payout ratio is presently 96.20%.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the 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. The trade was a 21.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. UBS Group lifted their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Morgan Stanley lifted their price objective on Chevron from $174.00 to $177.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Evercore ISI restated an “outperform” rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $165.40.

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.