Capricorn Fund Managers Ltd Has $3.36 Million Stock Holdings in Chevron Corporation (NYSE:CVX)

Key Points

• Capricorn Fund Managers Ltd reduced its holdings in Chevron Corporation by 50.4% in the first quarter, now owning approximately $3.36 million worth of the stock.
• Chevron's quarterly earnings report showed earnings per share of $2.18, surpassing analysts' expectations, while revenue decreased 2.3% compared to the previous year.
• The company's recent quarterly dividend announced was $1.71 per share, representing an annualized yield of 4.38%.

Capricorn Fund Managers Ltd reduced its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 50.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,108 shares of the oil and gas company's stock after selling 20,408 shares during the quarter. Chevron accounts for about 1.8% of Capricorn Fund Managers Ltd's holdings, making the stock its 24th biggest position. Capricorn Fund Managers Ltd's holdings in Chevron were worth $3,364,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CVX. Eagle Capital Management LLC lifted its holdings in shares of Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after acquiring an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after purchasing an additional 2,641 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Chevron by 9.4% in the 4th quarter. Schroder Investment Management Group now owns 1,090,546 shares of the oil and gas company's stock worth $156,024,000 after buying an additional 93,499 shares during the period. Prevail Innovative Wealth Advisors LLC grew its position in shares of Chevron by 60.1% in the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 2,242 shares of the oil and gas company's stock worth $325,000 after buying an additional 842 shares during the period. Finally, Partners in Financial Planning purchased a new stake in shares of Chevron in the 4th quarter worth about $308,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.9%

NYSE CVX opened at $156.18 on Tuesday. The stock has a fifty day moving average of $145.48 and a 200-day moving average of $148.84. The stock has a market capitalization of $272.75 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 2.44 and a beta of 0.83. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX - Get Free Report) last announced 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. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the previous year, the business earned $2.93 earnings per share. The business's revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.38%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CVX shares. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Mizuho lowered their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a report on Tuesday, May 6th. Barclays reiterated an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Finally, Scotiabank reiterated a "sector perform" rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Chevron presently has a consensus rating of "Hold" and a consensus price target of $162.13.

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.

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