GKV Capital Management Co. Inc. Has $262,000 Holdings in Chevron Corporation (NYSE:CVX)

Key Points

• GKV Capital Management Co. Inc. significantly decreased its stake in Chevron Corporation by 91.5%, selling 16,936 shares and owning only 1,564 shares worth approximately $262,000 post-sale.
• Chevron reported earnings of $1.77 per share for the recent quarter, exceeding analysts' expectations of $1.58, although its revenue declined by 12.4% year-over-year.
• The company declared a quarterly dividend of $1.71 per share, with a dividend yield of 4.4% and a payout ratio of 88.03%.

GKV Capital Management Co. Inc. trimmed its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 91.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,564 shares of the oil and gas company's stock after selling 16,936 shares during the period. GKV Capital Management Co. Inc.'s holdings in Chevron were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Sage Capital Advisors llc raised its holdings in Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after buying an additional 919 shares in the last quarter. CCG Wealth Management LLC raised its holdings in Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after buying an additional 145 shares in the last quarter. Ignite Planners LLC raised its holdings in Chevron by 14.1% during the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after buying an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. raised its holdings in Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after buying an additional 495 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in Chevron by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after buying an additional 675 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVX has been the topic of several recent research reports. Raymond James Financial restated an "outperform" rating on shares of Chevron in a report on Friday, August 1st. DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a report on Tuesday, May 6th. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Chevron in a research note on Tuesday, July 15th. Three 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 stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $164.11.

Chevron Stock Performance

CVX traded down $0.42 on Thursday, hitting $155.45. 7,327,280 shares of the stock traded hands, compared to its average volume of 9,372,618. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $268.62 billion, a PE ratio of 20.01, a P/E/G ratio of 2.31 and a beta of 0.87. The business has a fifty day moving average price of $149.43 and a two-hundred day moving average price of $148.60.

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 for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for 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%. The company's quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.55 earnings per share. On average, research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

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 issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's payout ratio is presently 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.