Landscape Capital Management L.L.C. Has $429,000 Position in Chevron Corporation $CVX

Key Points

• Landscape Capital Management L.L.C. significantly reduced its stake in Chevron Corporation by 84.5% in the 1st quarter, leaving them with only 2,567 shares valued at approximately $429,000.
• Chevron's quarterly dividend of $1.71 per share will be paid on September 10th, representing an annual yield of 4.3%.
• Wall Street analysts have mixed ratings on Chevron, with a general consensus of "Hold" and a target price averaging $163.95, despite some firms projecting price targets as high as $197.00.

Landscape Capital Management L.L.C. reduced its stake in Chevron Corporation (NYSE:CVX - Free Report) by 84.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,567 shares of the oil and gas company's stock after selling 13,996 shares during the period. Landscape Capital Management L.L.C.'s holdings in Chevron were worth $429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CVX. Harvest Fund Management Co. Ltd boosted its stake in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 122 shares in the last quarter. 10Elms LLP acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $29,000. Elequin Capital LP acquired a new stake in shares of Chevron in the 1st quarter valued at approximately $31,000. IFS Advisors LLC boosted its stake in shares of Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Finally, Cloud Capital Management LLC acquired a new stake in shares of Chevron in the 1st quarter valued at approximately $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company's stock.

Chevron Trading Down 2.8%

Shares of NYSE:CVX traded down $4.47 during mid-day trading on Wednesday, hitting $157.37. The company had a trading volume of 4,865,251 shares, compared to its average volume of 9,270,535. The firm has a fifty day moving average price of $152.93 and a 200 day moving average price of $148.86. The company has a market capitalization of $271.93 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 2.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.55 EPS. As a group, research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.3%. Chevron's dividend payout ratio (DPR) is presently 88.03%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CVX. Piper Sandler raised their price objective on shares of Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a report on Monday, August 18th. UBS Group raised their price objective on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Evercore ISI reiterated an "outperform" rating and issued a $180.00 price objective on shares of Chevron in a report on Thursday, July 31st. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Morgan Stanley began coverage on shares of Chevron in a report on Monday, August 4th. They issued an "overweight" rating and a $174.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $163.95.

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.