Oarsman Capital Inc. Sells 277 Shares of Chevron Corporation $CVX

Oarsman Capital Inc. lessened its holdings in Chevron Corporation (NYSE:CVX) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,256 shares of the oil and gas company’s stock after selling 277 shares during the quarter. Oarsman Capital Inc.’s holdings in Chevron were worth $753,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC increased its position in Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares during the period. GQG Partners LLC bought a new stake in shares of Chevron during the 1st quarter valued at about $1,466,751,000. Nuveen LLC purchased a new position in shares of Chevron during the first quarter valued at about $1,362,232,000. Charles Schwab Investment Management Inc. increased its position in shares of Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after buying an additional 1,574,464 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in Chevron by 141.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after buying an additional 1,107,628 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Chevron

In other Chevron 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 transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.20% of the stock is owned by insiders.

Chevron Stock Down 0.7%

Shares of CVX stock opened at $154.16 on Wednesday. The company’s fifty day moving average price is $156.07 and its 200-day moving average price is $148.68. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a market capitalization of $266.39 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 4.41 and a beta of 0.84. 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 (NYSE:CVX) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter last year, the business posted $2.55 earnings per share. The firm’s revenue was down 12.4% on a year-over-year basis. Sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s payout ratio is presently 88.03%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CVX shares. Raymond James Financial restated an “outperform” rating and set a $160.00 target price (down previously from $170.00) on shares of Chevron in a report on Friday, October 17th. Morgan Stanley assumed coverage on shares of Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price for the company. Scotiabank boosted their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Mizuho reduced their price objective on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Finally, TD Cowen boosted their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $165.25.

Chevron 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.