Chevron Corporation $CVX Shares Sold by Genus Capital Management Inc.

Key Points

• Genus Capital Management cut its Chevron stake by 44.2% in the fourth quarter, selling 9,500 shares and ending with 12,000 shares valued at about $1.83 million.
• Chevron beat earnings expectations for the latest quarter, reporting $1.41 EPS versus the $1.00 consensus, though revenue came in below forecasts at $47.56 billion.
• The company also declared a quarterly dividend of $1.78 per share, which equates to an annualized yield of 3.7%; analysts currently rate the stock a Moderate Buy with an average price target of $204.22.

Genus Capital Management Inc. lessened its stake in Chevron Corporation (NYSE:CVX - Free Report) by 44.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 12,000 shares of the oil and gas company's stock after selling 9,500 shares during the period. Genus Capital Management Inc.'s holdings in Chevron were worth $1,829,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CVX. Dakota Wealth Management lifted its position in Chevron by 14.9% in the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock valued at $12,690,000 after acquiring an additional 10,822 shares during the last quarter. Brooklyn FI LLC purchased a new stake in Chevron in the third quarter valued at $431,000. Clear Trail Advisors LLC purchased a new stake in Chevron in the fourth quarter valued at $10,167,000. Finemark National Bank & Trust lifted its position in Chevron by 40.3% in the third quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company's stock valued at $8,779,000 after acquiring an additional 16,243 shares during the last quarter. Finally, Curtis Advisory Group LLC purchased a new stake in Chevron in the fourth quarter valued at $1,381,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Trading Up 0.0%

Shares of Chevron stock opened at $191.51 on Monday. Chevron Corporation has a 52-week low of $134.06 and a 52-week high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company's 50-day simple moving average is $193.54 and its 200-day simple moving average is $174.75. The firm has a market cap of $381.42 billion, a price-to-earnings ratio of 33.19, a price-to-earnings-growth ratio of 0.64 and a beta of 0.51.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business's revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.18 earnings per share. As a group, equities research analysts anticipate that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron's dividend payout ratio is 123.40%.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: WTI crude above $95 per barrel is lifting Permian oil and associated gas economics, which should be a tailwind for Chevron’s upstream earnings and cash flow. More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Positive Sentiment: Morgan Stanley raised its price target on Chevron to $214 from $212 and reiterated an overweight rating, signaling continued Wall Street confidence in the stock’s upside. Benzinga / The Fly analyst update
• Positive Sentiment: Chevron’s planned participation in a Bernstein conference next week keeps investor attention on management commentary and strategic updates. Chevron to Participate in Fireside Q&A at Bernstein 42nd Annual Strategic Decisions Conference
• Positive Sentiment: Chevron’s new next-generation Techron gasoline additive may help support brand strength and retail fuel performance over time. Chevron Introduces Next-gen Techron in U.S. Chevron and Texaco Gasolines
• Positive Sentiment: Chevron stands to receive about $2.17 billion from the sale of several Asia Pacific refining and retail assets to Eneos, which supports balance-sheet flexibility and portfolio simplification. Chevron Corporation (CVX) Poised for $2.17B Boost from Asia Pacific Asset Sale

Insider Buying and Selling at Chevron

In other news, Vice Chairman Mark A. Nelson sold 139,600 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the transaction, the insider directly owned 11,337 shares of the company's stock, valued at approximately $2,130,449.04. This represents a 92.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider R. Hewitt Pate sold 58,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $188.65, for a total value of $10,941,700.00. Following the transaction, the insider directly owned 8,558 shares of the company's stock, valued at approximately $1,614,466.70. This trade represents a 87.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,179,699 shares of company stock worth $224,675,517. 0.56% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Melius Research raised shares of Chevron from a "hold" rating to a "buy" rating and set a $205.00 price target for the company in a research report on Tuesday, February 17th. Sanford C. Bernstein reduced their target price on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating for the company in a report on Monday, May 11th. Citigroup upped their target price on shares of Chevron from $210.00 to $235.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Zacks Research raised shares of Chevron from a "hold" rating to a "strong-buy" rating in a report on Friday, April 3rd. Finally, TD Cowen upped their target price on shares of Chevron from $204.00 to $205.00 and gave the company a "hold" rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $204.22.

Chevron Company Profile

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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