FWG Holdings LLC Sells 1,537 Shares of Chevron Corporation $CVX

FWG Holdings LLC trimmed its holdings in shares of Chevron Corporation (NYSE:CVX) by 41.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,209 shares of the oil and gas company’s stock after selling 1,537 shares during the quarter. FWG Holdings LLC’s holdings in Chevron were worth $334,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC lifted 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 worth $13,214,757,000 after acquiring an additional 83,702,101 shares during the last quarter. GQG Partners LLC bought a new position in shares of Chevron in the first quarter worth about $1,466,751,000. Nuveen LLC acquired a new position in shares of Chevron during the 1st quarter worth about $1,362,232,000. Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after purchasing an additional 1,574,464 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Chevron by 141.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after purchasing an additional 1,107,628 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of the firm’s 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 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated 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 in the company, valued at $188,960. This represents a 77.11% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

Chevron Stock Performance

CVX stock opened at $153.36 on Wednesday. The company has a 50 day moving average price of $155.91 and a 200 day moving average price of $149.43. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The stock has a market capitalization of $265.00 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 4.40 and a beta of 0.84.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. The company had revenue of $49.73 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.48 EPS. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio is presently 96.20%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CVX shares. Scotiabank boosted their target price on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Barclays decreased their price target on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Melius started coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Raymond James Financial reiterated an “outperform” rating and set a $160.00 target price (down from $170.00) on shares of Chevron in a research report on Friday, October 17th. Finally, Piper Sandler increased their price target on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and a consensus price target of $165.40.

Chevron Company 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.