GKV Capital Management Co. Inc. Trims Stock Holdings in Chevron Corporation $CVX

GKV Capital Management Co. Inc. trimmed its holdings in Chevron Corporation (NYSE:CVX) by 11.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,450 shares of the oil and gas company’s stock after selling 2,050 shares during the quarter. GKV Capital Management Co. Inc.’s holdings in Chevron were worth $2,752,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. CoreCap Advisors LLC boosted its position in shares of Chevron by 0.3% in the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock worth $4,091,000 after purchasing an additional 71 shares in the last quarter. GDS Wealth Management boosted its position in shares of Chevron by 4.4% in the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock worth $285,000 after purchasing an additional 72 shares in the last quarter. AIMZ Investment Advisors LLC boosted its position in shares of Chevron by 4.2% in the 1st quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company’s stock worth $298,000 after purchasing an additional 72 shares in the last quarter. Clayton Financial Group LLC boosted its position in shares of Chevron by 4.6% in the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock worth $285,000 after purchasing an additional 75 shares in the last quarter. Finally, Gill Capital Partners LLC boosted its position in shares of Chevron by 4.9% in the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company’s stock worth $271,000 after purchasing an additional 75 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE CVX opened at $159.29 on Friday. The stock has a 50-day simple moving average of $152.06 and a two-hundred day simple moving average of $148.80. The firm has a market capitalization of $275.26 billion, a P/E ratio of 20.50, a PEG ratio of 2.36 and a beta of 0.87. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share 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 return on equity of 9.90% and a net margin of 7.02%.The company’s revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the business posted $2.55 EPS. On average, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron 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 owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CVX shares. DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. TD Cowen raised their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Melius Research started coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Morgan Stanley started coverage on Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price for the company. Finally, Raymond James Financial restated an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $163.95.

Chevron Company 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.