54,162 Chevron Corporation $CVX Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its stake in Chevron Corporation (NYSE:CVX) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,007,734 shares of the oil and gas company’s stock after selling 54,162 shares during the period. King Luther Capital Management Corp’s holdings in Chevron were worth $205,789,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Banyan Capital Management Inc. acquired a new position in shares of Chevron during the third quarter worth $631,000. New Mexico Educational Retirement Board lifted its stake in shares of Chevron by 5.4% in the 3rd quarter. New Mexico Educational Retirement Board now owns 98,392 shares of the oil and gas company’s stock valued at $20,093,000 after acquiring an additional 5,000 shares during the last quarter. Spectrum Planning & Advisory Services Inc. bought a new position in shares of Chevron in the 3rd quarter valued at $292,000. CFM Wealth Partners LLC boosted its holdings in shares of Chevron by 1.1% during the 3rd quarter. CFM Wealth Partners LLC now owns 17,757 shares of the oil and gas company’s stock valued at $3,626,000 after acquiring an additional 200 shares in the last quarter. Finally, Bingham Private Wealth LLC boosted its holdings in shares of Chevron by 1.8% during the 3rd quarter. Bingham Private Wealth LLC now owns 7,487 shares of the oil and gas company’s stock valued at $1,529,000 after acquiring an additional 134 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, insider R. Pate sold 40,700 shares of the firm’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the completion of the transaction, the insider directly owned 8,791 shares of the company’s stock, valued at $1,992,480.15. This trade represents a 82.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Wirth sold 317,100 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the transaction, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 379,470 shares of company stock worth $77,216,415 over the last three months. Company insiders own 0.56% of the company’s stock.

Chevron Trading Up 0.9%

Shares of NYSE CVX opened at $213.21 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.07 and a current ratio of 1.34. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $236.48. The firm has a 50 day moving average price of $215.23 and a two-hundred day moving average price of $195.08. The stock has a market cap of $419.05 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 0.49 and a beta of 0.47.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.87 by $0.41. The firm had revenue of $65.24 billion during the quarter, compared to the consensus estimate of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.49%. The company’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.85 earnings per share. As a group, equities analysts forecast that Chevron Corporation will post 18.64 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, November 18th. Chevron’s dividend payout ratio is presently 52.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CVX shares. Argus boosted their price objective on Chevron from $206.00 to $211.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. The Goldman Sachs Group reiterated a “buy” rating and issued a $241.00 target price on shares of Chevron in a research report on Tuesday, October 20th. Royal Bank Of Canada increased their target price on Chevron from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, September 24th. Zacks Research raised Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Finally, TD Cowen boosted their price target on Chevron from $215.00 to $225.00 and gave the stock a “hold” rating in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $221.88.

Top Chevron Stories

Here are a few of the latest stories about CVX:

• Positive Sentiment: Chevron’s recent third-quarter results reportedly strengthened the earnings outlook, and the company reaffirmed its quarterly dividend. One valuation analysis argues the shares could be substantially undervalued, though that estimate depends on the model’s assumptions. Chevron Could Be 76% Below Fair Value As Q3 Earnings Reset Valuation
• Positive Sentiment: A 25% stake in Chevron’s Namibia offshore license is being sold to QatarEnergy. Sharing exploration costs while retaining control could limit Chevron’s financial exposure and preserve potential upside from a discovery. Chevron Expands Namibia Ties With QatarEnergy Offshore Stake Deal
• Neutral Sentiment: Dividend coverage highlights Chevron’s long record of annual increases—39 consecutive years—and its reaffirmed payout. That history may appeal to income investors, though comparisons with other dividend stocks do not by themselves indicate near-term earnings or share-price direction. Exxon vs. Chevron: Which Oil Dividend Wins the Next Decade?

Chevron Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives. The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.