Crestline Management LP Has $7.58 Million Position in Chevron Co. (NYSE:CVX)

Crestline Management LP raised its stake in Chevron Co. (NYSE:CVX - Free Report) by 253.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,327 shares of the oil and gas company's stock after buying an additional 37,528 shares during the quarter. Crestline Management LP's holdings in Chevron were worth $7,579,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Life Planning Partners Inc bought a new stake in Chevron in the fourth quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the fourth quarter worth $29,000. Fairway Wealth LLC increased its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 shares during the last quarter. Finally, Navigoe LLC bought a new position in Chevron during the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is owned by insiders.

Chevron Stock Down 2.2 %

CVX stock opened at $135.48 on Tuesday. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The business has a 50-day simple moving average of $149.37 and a 200 day simple moving average of $152.46. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $238.53 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.93 EPS. Sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 5.05%. Chevron's payout ratio is 78.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CVX shares. TD Cowen decreased their target price on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday. UBS Group reduced their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Wells Fargo & Company dropped their target price on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday. BNP Paribas lowered shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Finally, Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $163.75.

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.

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