King Luther Capital Management Corp Sells 13,085 Shares of Chevron Co. (NYSE:CVX)

by · The Markets Daily

King Luther Capital Management Corp reduced its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,204,911 shares of the oil and gas company’s stock after selling 13,085 shares during the quarter. King Luther Capital Management Corp owned about 0.07% of Chevron worth $174,519,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Life Planning Partners Inc bought a new stake in shares of Chevron during the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new position in Chevron in the third quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new position in Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron in the third quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter valued at approximately $39,000. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CVX has been the topic of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Raymond James decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, UBS Group reduced their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

View Our Latest Stock Report on CVX

Chevron Trading Up 0.8 %

NYSE:CVX opened at $157.67 on Tuesday. The firm’s fifty day moving average is $154.37 and its 200-day moving average is $151.86. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The firm has a market cap of $277.59 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the business earned $3.45 earnings per share. Equities analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.34%. Chevron’s dividend payout ratio is presently 70.37%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Chevron Company Profile

(Free Report)

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.

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