14,763 Chevron Corporation $CVX Shares Sold by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP lowered its holdings in Chevron Corporation (NYSE:CVX) by 44.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,192 shares of the oil and gas company’s stock after selling 14,763 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Chevron were worth $3,718,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Capital Inc. purchased a new position in shares of Chevron in the 2nd quarter worth approximately $786,000. OneAscent Wealth Management LLC purchased a new stake in shares of Chevron during the second quarter valued at approximately $973,000. Global Retirement Partners LLC purchased a new stake in shares of Chevron during the second quarter valued at approximately $14,276,000. Greg Jennings LLC purchased a new stake in shares of Chevron during the third quarter valued at approximately $1,314,000. Finally, Ferguson Wellman Capital Management Inc. lifted its holdings in Chevron by 0.6% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company’s stock worth $186,182,000 after acquiring an additional 5,787 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $210.91 on Tuesday. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $236.48. The stock’s fifty day moving average price is $215.09 and its two-hundred day moving average price is $194.63. The firm has a market cap of $416.71 billion, a PE ratio of 15.43, a PEG ratio of 0.51 and a beta of 0.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98.

Chevron (NYSE:CVX) last released 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. The business had revenue of $65.24 billion for the quarter, compared to the consensus estimate of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The company’s revenue was up 36.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.85 earnings per share. On average, equities research analysts forecast that Chevron Corporation will post 18.56 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be issued a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $7.12 dividend on an annualized basis and a yield of 3.4%. Chevron’s dividend payout ratio is 52.08%.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 317,100 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Pate sold 40,700 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the transaction, the insider directly owned 8,791 shares of the company’s stock, valued at approximately $1,992,480.15. This represents a 82.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 379,470 shares of company stock valued at $77,216,415 in the last quarter. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CVX shares. Mizuho set a $234.00 price objective on Chevron in a research report on Monday, October 12th. Zacks Research raised Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Barclays raised their target price on Chevron from $208.00 to $244.00 and gave the company an “equal weight” rating in a research report on Monday, November 2nd. Argus lifted their target price on Chevron from $206.00 to $211.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Finally, TD Cowen boosted their price target on shares of Chevron from $215.00 to $225.00 and gave the stock a “hold” rating in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $221.88.

Chevron 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.