Oarsman Capital Inc. Sells 277 Shares of Chevron Corporation $CVX

Oarsman Capital Inc. cut its stake in Chevron Corporation (NYSE:CVX) by 5.0% in the second quarter, Holdings Channel reports. The institutional investor owned 5,256 shares of the oil and gas company’s stock after selling 277 shares during the period. Oarsman Capital Inc.’s holdings in Chevron were worth $753,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Greenfield Savings Bank lifted its position in shares of Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after purchasing an additional 68 shares during the last quarter. Atwater Malick LLC increased its stake in Chevron by 2.4% in the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock worth $413,000 after buying an additional 68 shares during the period. Hubbell Strickland Wealth Management LLC lifted its holdings in Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock valued at $1,443,000 after buying an additional 68 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its position in Chevron by 10.3% in the 2nd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 70 shares during the period. Finally, Solstein Capital LLC boosted its position in Chevron by 3.2% in the 2nd quarter. Solstein Capital LLC now owns 2,271 shares of the oil and gas company’s stock valued at $325,000 after buying an additional 70 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the company’s 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 transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The SEC filing for this sale provides additional information. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

CVX stock opened at $154.16 on Wednesday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market cap of $266.39 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 4.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The firm has a 50-day simple moving average of $156.07 and a two-hundred day simple moving average of $148.68.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. The firm 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%. Chevron’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.55 EPS. On average, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were 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 was Tuesday, August 19th. Chevron’s payout ratio is 88.03%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays reduced their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Piper Sandler raised their price objective on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Scotiabank upped their target price on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Finally, Melius Research initiated coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $165.25.

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.