Chevron Corporation (NYSE:CVX) Shares Sold by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC significantly reduced its stake in Chevron Corporation by 94.6%, selling over 53,000 shares during the first quarter and holding only 3,054 shares worth approximately $511,000.
• Several institutional investors have increased their stakes in Chevron, with GAMMA Investing LLC boosting its holdings by an astonishing 21,191.5%, owning over 5.4 million shares valued at roughly $904.7 million.
• Chevron's latest quarterly earnings report showed earnings per share of $1.77, surpassing analyst expectations, even though revenue was down 12.4% year-over-year.

Headlands Technologies LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 94.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,054 shares of the oil and gas company's stock after selling 53,726 shares during the period. Headlands Technologies LLC's holdings in Chevron were worth $511,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harvest Fund Management Co. Ltd increased its holdings in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after buying an additional 122 shares during the last quarter. 10Elms LLP acquired a new stake in shares of Chevron during the 4th quarter worth approximately $29,000. Navigoe LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $33,000. IFS Advisors LLC increased its holdings in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after buying an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC acquired a new stake in shares of Chevron during the 1st quarter worth approximately $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.6%

Shares of CVX stock traded up $0.93 on Tuesday, reaching $154.38. 6,639,460 shares of the stock were exchanged, compared to its average volume of 9,404,396. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market capitalization of $266.77 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 2.32 and a beta of 0.87. The business's 50 day moving average price is $148.77 and its 200 day moving average price is $148.51.

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 (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the firm posted $2.55 earnings per share. Chevron's revenue for the quarter was down 12.4% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron's dividend payout ratio is currently 88.03%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research analyst reports. DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. Redburn Atlantic reissued a "sell" rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Wells Fargo & Company reissued an "overweight" rating and issued a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Barclays restated an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Finally, BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Chevron currently has a consensus rating of "Hold" and a consensus target price of $164.11.

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.