GKV Capital Management Co. Inc. Sells 2,050 Shares of Chevron Corporation $CVX

Key Points

• GKV Capital Management Co. Inc. reduced its holdings in Chevron Corporation by 11.1%, ending the first quarter with 16,450 shares valued at approximately $2.75 million.
• Chevron reported a 1.77 EPS for its last quarter, surpassing analyst expectations, although its revenue showed a 12.4% decline year-over-year.
• The company declared a quarterly dividend of $1.71 per share, resulting in a 4.3% dividend yield for shareholders.

GKV Capital Management Co. Inc. reduced its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,450 shares of the oil and gas company's stock after selling 2,050 shares during the period. GKV Capital Management Co. Inc.'s holdings in Chevron were worth $2,752,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CVX. Sage Capital Advisors llc increased its position in shares of 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 purchasing an additional 919 shares during the period. CCG Wealth Management LLC increased its position in shares of 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 purchasing an additional 145 shares during the period. Ignite Planners LLC increased its position in shares of 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 purchasing an additional 1,519 shares during the period. Vista Capital Partners Inc. increased its position in shares of 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 purchasing an additional 495 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in shares of 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 purchasing an additional 675 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVX. Wells Fargo & Company restated an "overweight" rating and set a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Scotiabank reaffirmed a "sector perform" rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Finally, Melius started coverage on Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $163.95.

Insider Transactions at Chevron

In related news, 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 value of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Chevron Price Performance

Chevron stock traded up $1.32 on Monday, reaching $160.64. The company's stock had a trading volume of 6,932,144 shares, compared to its average volume of 7,870,647. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market cap of $277.59 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 2.38 and a beta of 0.90. The business's fifty day moving average price is $152.29 and its 200 day moving average price is $148.73. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results 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 company had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business's revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.55 earnings per share. Equities analysts expect that Chevron Corporation will post 10.79 earnings per share 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 dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Tuesday, August 19th. Chevron's dividend 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.