Future Fund LLC Increases Stake in Chevron Corporation $CVX

Future Fund LLC grew its holdings in Chevron Corporation (NYSE:CVX) by 10.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,325 shares of the oil and gas company’s stock after acquiring an additional 494 shares during the period. Future Fund LLC’s holdings in Chevron were worth $762,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC raised its stake in shares of Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after buying an additional 83,702,101 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Chevron by 4.9% during the 1st 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 acquiring an additional 1,574,464 shares during the period. Invesco Ltd. raised its stake in Chevron by 5.5% during the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock worth $2,652,437,000 after acquiring an additional 827,851 shares during the period. Dimensional Fund Advisors LP lifted its holdings 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 purchasing an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC bought a new position in shares of Chevron in the first quarter worth approximately $1,466,751,000. 72.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through 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 sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of a number of analyst reports. Mizuho lowered their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a report on Friday, July 18th. Wells Fargo & Company assumed coverage on Chevron in a research note on Friday, October 17th. They issued an “overweight” rating and a $190.00 price objective for the company. Raymond James Financial reissued an “outperform” rating and set a $160.00 target price (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. Finally, Melius began coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. One research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus target price of $165.40.

Chevron Stock Up 1.4%

Shares of NYSE CVX opened at $155.10 on Monday. The firm’s 50-day moving average price is $155.55 and its 200-day moving average price is $149.80. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The stock has a market capitalization of $268.01 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 business had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the company earned $2.48 EPS. On average, equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend 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%.

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.