Cwm LLC Has $42.61 Million Stake in Chevron Corporation $CVX

Key Points

• Cwm LLC increased its stake in Chevron Corporation to approximately $42.61 million after acquiring an additional 1,749 shares during the second quarter, now owning a total of 297,604 shares.
• Chevron reported earnings per share (EPS) of $1.77 for the last quarter, exceeding analysts' expectations of $1.58, despite a 12.4% decline in revenue compared to the previous year.
• The company recently declared a quarterly dividend of $1.71 per share, resulting in an annualized dividend yield of 4.6% and a payout ratio of 88.03%.

Cwm LLC boosted its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 0.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 297,604 shares of the oil and gas company's stock after buying an additional 1,749 shares during the quarter. Cwm LLC's holdings in Chevron were worth $42,614,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Greenfield Savings Bank boosted its holdings in Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company's stock valued at $1,663,000 after acquiring an additional 68 shares during the period. Atwater Malick LLC boosted its holdings in Chevron by 2.4% during the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company's stock valued at $413,000 after acquiring an additional 68 shares during the period. Hubbell Strickland Wealth Management LLC boosted its holdings in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company's stock valued at $1,443,000 after acquiring an additional 68 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in Chevron by 4.1% during the second quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company's stock valued at $260,000 after acquiring an additional 71 shares during the period. Finally, GDS Wealth Management boosted its holdings in Chevron by 4.4% during the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company's stock valued at $285,000 after acquiring an additional 72 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent analyst reports. TD Cowen upped their price target on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a report on Monday, August 4th. Bank of America upped their price target on shares of Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Evercore ISI reissued an "outperform" rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Weiss Ratings restated a "hold (c)" rating on shares of Chevron in a research note on Wednesday. Finally, Mizuho lowered their price target on Chevron from $192.00 to $191.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $165.40.

Chevron Trading Down 1.7%

Shares of CVX opened at $149.11 on Friday. The firm has a market capitalization of $257.66 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 1.92 and a beta of 0.84. 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 12-month low of $132.04 and a 12-month high of $168.96. The stock's 50-day moving average price is $156.10 and its 200 day moving average price is $148.54.

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

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid 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 yield of 4.6%. Chevron's dividend payout ratio (DPR) is currently 88.03%.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hess sold 375,000 shares of the firm's 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 transaction, the director owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is 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.

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