Chevron Co. (NYSE:CVX) Stake Lowered by JB Capital LLC



JB Capital LLC reduced its stake in shares of Chevron Co. (NYSE:CVX – Get Rating) by 5.6% during the 1st quarter, HoldingsChannel reports. The fund owned 7,128 shares of the oil and gas company’s stock after selling 423 shares during the period. JB Capital LLC’s holdings in Chevron were worth $1,161,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CVX. Clarity Financial LLC raised its position in shares of Chevron by 2.2% during the first quarter. Clarity Financial LLC now owns 2,790 shares of the oil and gas company’s stock valued at $454,000 after buying an additional 61 shares during the last quarter. LCM Capital Management Inc raised its position in shares of Chevron by 0.9% during the first quarter. LCM Capital Management Inc now owns 7,306 shares of the oil and gas company’s stock valued at $1,190,000 after buying an additional 63 shares during the last quarter. Advocacy Wealth Management Services LLC raised its position in shares of Chevron by 30.7% during the first quarter. Advocacy Wealth Management Services LLC now owns 294 shares of the oil and gas company’s stock valued at $48,000 after buying an additional 69 shares during the last quarter. Evanson Asset Management LLC raised its position in shares of Chevron by 0.4% during the first quarter. Evanson Asset Management LLC now owns 16,341 shares of the oil and gas company’s stock valued at $2,661,000 after buying an additional 70 shares during the last quarter. Finally, Red Spruce Capital LLC raised its position in shares of Chevron by 1.0% during the first quarter. Red Spruce Capital LLC now owns 7,213 shares of the oil and gas company’s stock valued at $1,174,000 after buying an additional 71 shares during the last quarter. 65.89% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE CVX opened at $146.51 on Friday. The company’s 50 day simple moving average is $164.13 and its 200 day simple moving average is $151.10. Chevron Co. has a fifty-two week low of $92.86 and a fifty-two week high of $182.40. The firm has a market capitalization of $287.86 billion, a P/E ratio of 13.77, a P/E/G ratio of 0.63 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22.

Chevron (NYSE:CVX – Get Rating) last announced its quarterly earnings data on Friday, April 29th. The oil and gas company reported $3.36 earnings per share for the quarter, missing the consensus estimate of $3.44 by ($0.08). Chevron had a net margin of 11.10% and a return on equity of 14.66%. The business had revenue of $54.37 billion during the quarter, compared to analyst estimates of $54.96 billion. During the same quarter in the prior year, the company earned $0.90 earnings per share. The company’s quarterly revenue was up 69.8% on a year-over-year basis. Sell-side analysts expect that Chevron Co. will post 17.5 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Thursday, May 19th were issued a $1.42 dividend. The ex-dividend date was Wednesday, May 18th. This represents a $5.68 annualized dividend and a yield of 3.88%. Chevron’s dividend payout ratio is currently 53.38%.

In other Chevron news, Director Enrique Hernandez, Jr. sold 5,805 shares of the stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $160.00, for a total value of $928,800.00. Following the sale, the director now directly owns 22,978 shares in the company, valued at $3,676,480. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Enrique Hernandez, Jr. sold 39,773 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $173.99, for a total transaction of $6,920,104.27. Following the completion of the sale, the director now owns 22,978 shares in the company, valued at $3,997,942.22. The disclosure for this sale can be found here. Insiders sold 561,726 shares of company stock worth $94,057,396 over the last 90 days. 0.32% of the stock is currently owned by company insiders.

CVX has been the subject of a number of research analyst reports. Barclays upped their objective price on shares of Chevron from $183.00 to $196.00 and gave the company an “overweight” rating in a research report on Tuesday, May 31st. Trust Financial lowered their target price on shares of Chevron from $181.00 to $170.00 and set a “hold” rating on the stock in a research note on Tuesday, June 28th. Citigroup upped their target price on shares of Chevron from $160.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, May 19th. JPMorgan Chase & Co. cut shares of Chevron from a “neutral” rating to an “underweight” rating and set a $169.00 target price on the stock. in a research note on Friday, March 11th. Finally, Raymond James upped their target price on shares of Chevron from $173.00 to $191.00 and gave the company an “outperform” rating in a research note on Monday, April 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $167.24.

Chevron Company Profile (Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

Further Reading

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)



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