Matrix Trust Co Has $964,000 Stock Position in Chevron Corporation $CVX

Key Points

• Matrix Trust Co sold 1,643 shares of Chevron, reducing its stake by 19.6%, leaving a total of 6,729 shares valued at approximately $964,000.
• Chevron's recent quarterly earnings report showed an EPS of $1.77, beating expectations, with revenues totaling $44.82 billion, a 12.4% decline year-over-year.
• The company announced a quarterly dividend of $1.71, translating to an annualized dividend yield of 4.4% and a payout ratio of 88.03%.

Matrix Trust Co reduced its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 19.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,729 shares of the oil and gas company's stock after selling 1,643 shares during the period. Matrix Trust Co's holdings in Chevron were worth $964,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd raised its holdings in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 122 shares in the last quarter. Elequin Capital LP bought a new position in shares of Chevron in the 1st quarter valued at $31,000. IFS Advisors LLC increased its stake in shares of Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares during the last quarter. Cloud Capital Management LLC bought a new position in shares of Chevron in the 1st quarter valued at $39,000. Finally, Investment Management Corp VA ADV increased its stake in shares of Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 149 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John B. Hess sold 375,000 shares of the company'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 sale, the director owned 1,403,045 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Chevron Trading Down 0.0%

Shares of NYSE CVX traded down $0.05 during trading on Monday, reaching $156.16. The company had a trading volume of 5,178,093 shares, compared to its average volume of 9,193,337. The company's fifty day moving average price is $155.24 and its 200-day moving average price is $148.96. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a market cap of $269.84 billion, a P/E ratio of 20.10, a PEG ratio of 1.96 and a beta of 0.90. 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 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the previous year, the company posted $2.55 EPS. The business's revenue was down 12.4% on a year-over-year basis. As a group, research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron's dividend payout ratio is presently 88.03%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent analyst reports. Mizuho decreased 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. Evercore ISI reiterated an "outperform" rating and issued a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. TD Cowen boosted their price objective on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday, August 4th. Melius Research began coverage on Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective on the stock. Finally, Barclays restated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $165.05.

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.