Morton Capital Management LLC CA Has $507,000 Position in Chevron Corporation $CVX

Morton Capital Management LLC CA grew its stake in shares of Chevron Corporation (NYSE:CVX) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,542 shares of the oil and gas company’s stock after acquiring an additional 137 shares during the period. Morton Capital Management LLC CA’s holdings in Chevron were worth $507,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. TI Trust Inc. grew its holdings in shares of Chevron by 6.8% during the 2nd quarter. TI Trust Inc. now owns 14,807 shares of the oil and gas company’s stock valued at $2,120,000 after acquiring an additional 937 shares in the last quarter. Valmark Advisers Inc. grew its holdings in shares of Chevron by 4.4% during the 2nd quarter. Valmark Advisers Inc. now owns 15,759 shares of the oil and gas company’s stock valued at $2,257,000 after acquiring an additional 663 shares in the last quarter. Nelson Capital Management LLC grew its holdings in shares of Chevron by 0.4% during the 2nd quarter. Nelson Capital Management LLC now owns 29,776 shares of the oil and gas company’s stock valued at $4,264,000 after acquiring an additional 113 shares in the last quarter. WoodTrust Financial Corp grew its holdings in shares of Chevron by 5.9% during the 2nd quarter. WoodTrust Financial Corp now owns 46,912 shares of the oil and gas company’s stock valued at $6,718,000 after acquiring an additional 2,611 shares in the last quarter. Finally, Traphagen Investment Advisors LLC grew its holdings in shares of Chevron by 2.6% during the 2nd quarter. Traphagen Investment Advisors LLC now owns 10,732 shares of the oil and gas company’s stock valued at $1,537,000 after acquiring an additional 276 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Up 0.6%

CVX stock opened at $154.92 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a 50-day moving average of $156.15 and a two-hundred day moving average of $148.84. The stock has a market capitalization of $267.70 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84.

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

Chevron Announces Dividend

The business 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. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron’s dividend payout ratio is currently 88.03%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CVX shares. Wells Fargo & Company restated an “overweight” rating and set a $178.00 price target on shares of Chevron in a report on Friday, August 1st. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Scotiabank reiterated a “sector perform” rating and issued a $160.00 price objective (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Melius initiated coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Finally, Bank of America upped their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $165.15.

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.