Woodstock Corp Has $6.84 Million Stock Position in Chevron Corporation $CVX

Key Points

• Woodstock Corp has reduced its holdings in Chevron by 4.8%, selling 2,405 shares and valuing its remaining stake at $6,844,000 as of the end of the second quarter.
• Chevron's recent quarterly earnings showed an EPS of $1.77, exceeding the consensus estimate, despite a 12.4% year-over-year decline in revenue.
• The company announced a quarterly dividend payout of $1.71 per share, reflecting an annualized dividend yield of 4.3%.

Woodstock Corp lowered its position in Chevron Corporation (NYSE:CVX - Free Report) by 4.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,797 shares of the oil and gas company's stock after selling 2,405 shares during the quarter. Woodstock Corp's holdings in Chevron were worth $6,844,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CVX. Bank Pictet & Cie Europe AG raised its holdings in shares of 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 buying an additional 2,641 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Chevron in the 4th quarter worth approximately $258,000. Tang Capital Management LLC acquired a new position in shares of Chevron in the 4th quarter worth approximately $866,000. State of Wyoming raised its holdings in shares of Chevron by 662.3% in the 4th quarter. State of Wyoming now owns 2,226 shares of the oil and gas company's stock worth $322,000 after buying an additional 1,934 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Chevron by 12.1% in the 4th quarter. Tidal Investments LLC now owns 106,394 shares of the oil and gas company's stock worth $15,410,000 after buying an additional 11,514 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Trading Up 1.4%

CVX stock traded up $2.25 during midday trading on Tuesday, hitting $159.56. 8,008,054 shares of the company's stock were exchanged, compared to its average volume of 7,495,309. The stock's fifty day moving average price is $155.00 and its 200-day moving average price is $148.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market cap of $275.72 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.97 and a beta of 0.90. 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 posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron's quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the company earned $2.55 earnings per share. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. Chevron's dividend payout ratio (DPR) is presently 88.03%.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent research reports. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a report on Friday, July 18th. Morgan Stanley initiated coverage on Chevron in a report on Monday, August 4th. They issued an "overweight" rating and a $174.00 target price for the company. Scotiabank reissued a "sector perform" rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Mizuho dropped their price target on Chevron from $192.00 to $191.00 and set an "outperform" rating for the company in a report on Monday. Finally, Bank of America raised their price target on Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus price target of $165.05.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company's stock, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

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.