King Luther Capital Management Corp Sells 54,162 Shares of Chevron Corporation $CVX

King Luther Capital Management Corp cut its holdings in shares of Chevron Corporation (NYSE:CVX) by 5.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,007,734 shares of the oil and gas company’s stock after selling 54,162 shares during the quarter. King Luther Capital Management Corp owned 0.05% of Chevron worth $205,789,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gemmer Asset Management LLC grew its position in Chevron by 1.1% during the third quarter. Gemmer Asset Management LLC now owns 4,254 shares of the oil and gas company’s stock worth $869,000 after buying an additional 47 shares in the last quarter. Livet Wealth LLC increased its stake in Chevron by 4.0% during the 3rd quarter. Livet Wealth LLC now owns 1,268 shares of the oil and gas company’s stock worth $259,000 after acquiring an additional 49 shares during the period. Uhlmann Price Securities LLC raised its holdings in Chevron by 3.1% in the 3rd quarter. Uhlmann Price Securities LLC now owns 1,639 shares of the oil and gas company’s stock valued at $335,000 after acquiring an additional 49 shares in the last quarter. First PREMIER Bank raised its holdings in Chevron by 0.8% in the 2nd quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company’s stock valued at $1,070,000 after acquiring an additional 50 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors raised its holdings in Chevron by 1.8% in the 2nd quarter. Vanguard Capital Wealth Advisors now owns 2,818 shares of the oil and gas company’s stock valued at $467,000 after acquiring an additional 50 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of NYSE:CVX opened at $213.21 on Thursday. The company’s 50 day simple moving average is $215.23 and its 200 day simple moving average is $195.08. The stock has a market capitalization of $419.05 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 0.49 and a beta of 0.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.07. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $236.48.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.87 by $0.41. Chevron had a net margin of 11.56% and a return on equity of 14.49%. The business had revenue of $65.24 billion during the quarter, compared to the consensus estimate of $61.82 billion. During the same period in the previous year, the business earned $1.85 earnings per share. The company’s revenue was up 36.3% on a year-over-year basis. As a group, research analysts predict that Chevron Corporation will post 18.64 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be paid a $1.78 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $7.12 annualized dividend and a dividend yield of 3.3%. Chevron’s dividend payout ratio (DPR) is presently 52.08%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CVX. JPMorgan Chase & Co. upped their target price on Chevron from $190.00 to $222.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Sanford C. Bernstein raised their price target on Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Royal Bank Of Canada boosted their price target on Chevron from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, September 24th. William Blair began coverage on Chevron in a research note on Wednesday, October 28th. They issued an “outperform” rating for the company. Finally, Jefferies Financial Group upped their price objective on shares of Chevron from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $221.88.

Insider Activity

In related news, insider Andrew Walz sold 16,800 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the sale, the insider directly owned 14 shares in the company, valued at $2,814.84. This represents a 99.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael K. Wirth sold 317,100 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the sale, the chief executive officer directly owned 26,308 shares in the company, valued at $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 379,470 shares of company stock worth $77,216,415. Insiders own 0.56% of the company’s stock.

Trending Headlines about Chevron

These are some of the CVX headlines that stood out recently:

• Positive Sentiment: Chevron’s recent third-quarter results reportedly strengthened the earnings outlook, and the company reaffirmed its quarterly dividend. One valuation analysis argues the shares could be substantially undervalued, though that estimate depends on the model’s assumptions. Chevron Could Be 76% Below Fair Value As Q3 Earnings Reset Valuation
• Negative Sentiment: Oil futures fell to their lowest level since August after comments that the Iran conflict was effectively over. Lower crude prices can weigh on energy-sector earnings expectations, although the report notes there was no confirmed deal and Iran denied talks. Oil Prices Just Fell to Their Lowest Since August
• Negative Sentiment: Chevron’s plans to expand Venezuelan production offer potential growth, but the article flags political and investment uncertainty; ExxonMobil’s caution underscores the risks of committing capital in the country. Chevron Is Doubling Venezuela Production. ExxonMobil Says It’s Not in a Rush.

Chevron Company Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives. The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.