Chevron Corporation $CVX Shares Purchased by Everstar Asset Management LLC

by · The Markets Daily

Everstar Asset Management LLC boosted its position in Chevron Corporation (NYSE:CVX – Free Report) by 45.1% during the first quarter, Holdings Channel.com reports. The fund owned 4,381 shares of the oil and gas company’s stock after purchasing an additional 1,361 shares during the quarter. Everstar Asset Management LLC’s holdings in Chevron were worth $733,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd raised its position in 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 valued at $25,000 after purchasing an additional 122 shares during the period. 10Elms LLP purchased a new position in Chevron in the fourth quarter valued at about $29,000. Elequin Capital LP purchased a new position in Chevron in the first quarter valued at about $31,000. IFS Advisors LLC raised its position in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares during the period. Finally, Cloud Capital Management LLC purchased a new position in Chevron in the first quarter valued at about $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 2.4%

NYSE:CVX opened at $153.83 on Monday. The company has a market capitalization of $265.81 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 2.28 and a beta of 0.90. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The stock has a 50-day simple moving average of $153.69 and a 200 day simple moving average of $148.80. 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 – Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period last year, the firm earned $2.55 earnings per share. Sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is 88.03%.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on CVX. Melius began coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Barclays reissued an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Wells Fargo & Company reissued an “overweight” rating and issued a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Scotiabank restated a “sector perform” rating and set a $160.00 target price (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $163.95.

Check Out Our Latest Stock Analysis on Chevron

About Chevron

(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.

See Also

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