Chevron Corporation (NYSE:CVX) Shares Sold by Keeler Thomas Management LLC

Key Points

• Keeler Thomas Management LLC reduced its stake in Chevron Corporation by 35.8% in the first quarter, now holding approximately 20,205 shares valued at $3,380,000.
• Chevron's quarterly revenue was reported at $44.82 billion, with earnings per share (EPS) of $1.77, surpassing analysts' expectations.
• The company announced a quarterly dividend of $1.71 to be paid on September 10th, representing an annualized yield of 4.5%.

Keeler Thomas Management LLC cut its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 35.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,205 shares of the oil and gas company's stock after selling 11,277 shares during the period. Chevron makes up 1.7% of Keeler Thomas Management LLC's investment portfolio, making the stock its 18th biggest holding. Keeler Thomas Management LLC's holdings in Chevron were worth $3,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CVX. Eagle Capital Management LLC lifted its holdings in shares of Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after buying an additional 242 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after acquiring an additional 2,641 shares during the period. FMR LLC raised its position in Chevron by 7.9% in the fourth quarter. FMR LLC now owns 3,866,447 shares of the oil and gas company's stock worth $560,016,000 after acquiring an additional 281,784 shares in the last quarter. FIL Ltd lifted its holdings in Chevron by 538.6% in the fourth quarter. FIL Ltd now owns 378,736 shares of the oil and gas company's stock valued at $54,856,000 after acquiring an additional 319,425 shares during the period. Finally, Faithward Advisors LLC boosted its position in shares of Chevron by 3.0% during the 4th quarter. Faithward Advisors LLC now owns 4,445 shares of the oil and gas company's stock worth $644,000 after purchasing an additional 129 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research analyst reports. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. BNP Paribas cut shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Wells Fargo & Company reissued an "overweight" rating and set a $178.00 price target on shares of Chevron in a research note on Friday, August 1st. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Chevron in a research note on Tuesday, July 15th. Three analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $164.11.

Chevron Trading Up 1.2%

NYSE:CVX traded up $1.82 on Friday, reaching $154.98. The stock had a trading volume of 6,331,417 shares, compared to its average volume of 12,388,930. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a market cap of $270.66 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 2.30 and a beta of 0.87. The firm's fifty day moving average is $148.08 and its two-hundred day moving average is $148.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82.

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 for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The business had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the previous year, the business posted $2.55 earnings per share. The company's revenue was down 12.4% on a year-over-year basis. Equities analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

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.