Wilmington Savings Fund Society FSB Has $20.72 Million Position in Chevron Corporation $CVX

Wilmington Savings Fund Society FSB cut its stake in Chevron Corporation (NYSE:CVX) by 5.5% during the second quarter, HoldingsChannel reports. The fund owned 144,730 shares of the oil and gas company’s stock after selling 8,446 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Chevron were worth $20,724,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd increased its stake in shares of Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares during the last quarter. Elequin Capital LP acquired a new position in shares of Chevron in the first quarter worth $31,000. Cloud Capital Management LLC acquired a new position in shares of Chevron in the first quarter worth $39,000. Investment Management Corp VA ADV increased its stake in shares of Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 149 shares during the last quarter. Finally, 1 North Wealth Services LLC acquired a new position in shares of Chevron in the first quarter worth $45,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction 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. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Up 2.0%

CVX stock opened at $151.86 on Tuesday. 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 $156.12 and a two-hundred day moving average of $148.31. The stock has a market capitalization of $262.42 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the prior year, the company earned $2.55 earnings per share. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. 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 announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Scotiabank increased their target price on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Morgan Stanley assumed coverage on shares of Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Finally, Melius Research assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $165.40.

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.