Interval Partners LP Has $9.71 Million Stock Holdings in Chevron Corporation $CVX

Interval Partners LP raised its stake in Chevron Corporation (NYSE:CVX) by 29.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 58,044 shares of the oil and gas company’s stock after purchasing an additional 13,117 shares during the quarter. Interval Partners LP’s holdings in Chevron were worth $9,710,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CVX. Harvest Fund Management Co. Ltd increased its stake in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares during the last quarter. 10Elms LLP acquired a new position in shares of Chevron during the 4th quarter worth $29,000. Elequin Capital LP acquired a new position in shares of Chevron during the 1st quarter worth $31,000. IFS Advisors LLC increased its stake in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC acquired a new position in shares of Chevron during the 1st quarter worth $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on 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 directly owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction on 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 directly 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 disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on CVX. Scotiabank restated a “sector perform” rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Morgan Stanley assumed coverage on shares of Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective for the company. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a report on Friday, July 18th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Chevron in a report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $163.95.

Chevron Price Performance

Shares of Chevron stock opened at $158.00 on Friday. 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 fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a fifty day moving average price of $153.49 and a two-hundred day moving average price of $148.94. The company has a market cap of $273.03 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 2.34 and a beta of 0.90.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share 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 firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the prior year, the firm earned $2.55 EPS. The business’s revenue was down 12.4% on a year-over-year basis. Analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron’s dividend payout ratio is 88.03%.

About Chevron

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.