Little House Capital LLC Decreases Stake in Chevron Corporation $CVX

Key Points

• Little House Capital LLC reduced its stake in Chevron Corporation (CVX) by 18.5% during the second quarter, ending with 26,310 shares valued at approximately $3.77 million.
• Chevron reported a quarterly earnings per share of $1.77, exceeding analysts' expectations of $1.58, despite a 12.4% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $1.71, which represents an annualized dividend yield of 4.3% and a payout ratio of 88.03%.

Little House Capital LLC lessened its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 18.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,310 shares of the oil and gas company's stock after selling 5,969 shares during the quarter. Little House Capital LLC's holdings in Chevron were worth $3,767,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. Sage Capital Advisors llc raised its stake in Chevron by 2.2% in the 1st 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 last quarter. CCG Wealth Management LLC raised its stake in Chevron by 2.3% in the 1st 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 last quarter. Ignite Planners LLC raised its stake in Chevron by 14.1% in the 1st 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 last quarter. Vista Capital Partners Inc. raised its stake in Chevron by 9.1% in the 1st 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 last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in Chevron by 0.5% in the 1st 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 last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of the company's stock in a transaction that occurred on 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 directly owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. Wells Fargo & Company reissued an "overweight" rating and issued a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Melius initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price for the company. Morgan Stanley initiated coverage on shares of Chevron in a research note on Monday, August 4th. They issued an "overweight" rating and a $174.00 target price for the company. TD Cowen boosted their target price on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research note on Monday, August 4th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $165.05.

Chevron Stock Up 0.2%

NYSE CVX opened at $157.46 on Tuesday. The stock has a market cap of $272.09 billion, a PE ratio of 20.27, a P/E/G ratio of 1.98 and a beta of 0.90. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The business has a 50 day moving average price of $154.87 and a two-hundred day moving average price of $148.78. 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 (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share 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 return on equity of 9.90% and a net margin of 7.02%.Chevron's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.55 EPS. As a group, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Tuesday, August 19th. Chevron's dividend payout ratio is currently 88.03%.

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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.