Staley Capital Advisers Inc. Has $66.79 Million Stake in Chevron Corporation (NYSE:CVX)

Key Points

• Staley Capital Advisers Inc. reduced its stake in Chevron Corporation by 0.8%, now holding 399,235 shares valued at approximately $66.79 million.
• Chevron recently reported an earnings per share (EPS) of $1.77, exceeding estimates, although its revenue showed a 12.4% year-over-year decline.
• The company announced a quarterly dividend of $1.71 per share, representing a 4.4% yield, with a payout ratio of 88.03%.

Staley Capital Advisers Inc. lowered its stake in Chevron Corporation (NYSE:CVX - Free Report) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 399,235 shares of the oil and gas company's stock after selling 3,067 shares during the quarter. Chevron comprises approximately 3.0% of Staley Capital Advisers Inc.'s holdings, making the stock its 8th largest holding. Staley Capital Advisers Inc.'s holdings in Chevron were worth $66,788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. CoreCap Advisors LLC raised its holdings in shares of Chevron by 0.3% in the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock worth $4,091,000 after acquiring an additional 71 shares during the last quarter. Clayton Financial Group LLC lifted its holdings in Chevron by 4.6% during the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock worth $285,000 after acquiring an additional 75 shares during the period. Gill Capital Partners LLC raised its stake in shares of Chevron by 4.9% during the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company's stock worth $271,000 after purchasing an additional 75 shares during the period. Cordatus Wealth Management LLC raised its holdings in shares of Chevron by 0.4% in the 1st quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company's stock worth $3,299,000 after purchasing an additional 76 shares during the period. Finally, Requisite Capital Management LLC lifted its position in shares of Chevron by 1.2% during the 1st quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company's stock valued at $1,064,000 after buying an additional 77 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

CVX traded up $0.93 during midday trading on Tuesday, hitting $154.38. 6,641,283 shares of the company traded hands, compared to its average volume of 12,062,080. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The firm has a market capitalization of $266.77 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 2.30 and a beta of 0.87. The company's 50-day moving average is $149.07 and its 200 day moving average is $148.55.

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

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CVX shares. Morgan Stanley started coverage on shares of Chevron in a report on Monday, August 4th. They set an "overweight" rating and a $174.00 target price on the stock. HSBC cut Chevron from a "buy" rating to a "hold" rating and reduced their target price for the company from $176.00 to $158.00 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 price target on the stock. in a research note on Tuesday, May 6th. Evercore ISI restated an "outperform" rating and set a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Finally, Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.