Campbell Capital Management Inc. Sells 2,728 Shares of Chevron Corporation (NYSE:CVX)

Key Points

• Campbell Capital Management Inc. reduced its stake in Chevron Corporation by 5.9%, now holding 43,556 shares valued at approximately $7.29 million.
• Chevron reported earnings of $1.77 per share for the latest quarter, surpassing estimates, with a revenue of $44.82 billion.
• The company's recent quarterly dividend declaration is $1.71 per share, providing an annualized dividend of $6.84, representing a yield of 4.5%.

Campbell Capital Management Inc. lowered its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 5.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,556 shares of the oil and gas company's stock after selling 2,728 shares during the quarter. Chevron comprises about 4.2% of Campbell Capital Management Inc.'s investment portfolio, making the stock its 8th biggest position. Campbell Capital Management Inc.'s holdings in Chevron were worth $7,286,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CVX. Sage Capital Advisors llc increased its position in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after buying an additional 919 shares during the period. CCG Wealth Management LLC boosted its holdings in Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after purchasing an additional 145 shares during the period. Ignite Planners LLC grew its position in Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock worth $2,060,000 after purchasing an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. raised its position in shares of Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after buying an additional 495 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after buying an additional 675 shares during the period. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Shares of CVX stock opened at $152.80 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The firm has a fifty day moving average of $147.44 and a 200-day moving average of $148.68. The firm has a market capitalization of $266.85 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 2.30 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a return on equity of 9.80% and a net margin of 7.02%. The company's revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.55 earnings per share. On average, equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Tuesday, August 19th. Chevron's payout ratio is 88.03%.

Analyst Ratings Changes

CVX has been the subject of several research reports. Mizuho reduced their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Raymond James Financial restated an "outperform" rating on shares of Chevron in a research report on Friday. UBS Group lifted their target price on Chevron from $177.00 to $186.00 and gave the company a "buy" rating in a research note on Monday. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron currently has a consensus rating of "Hold" and an average target price of $164.11.

About Chevron

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.