CMG Global Holdings LLC Sells 163 Shares of Chevron Corporation $CVX

CMG Global Holdings LLC trimmed its stake in shares of Chevron Corporation (NYSE:CVX) by 7.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,102 shares of the oil and gas company’s stock after selling 163 shares during the quarter. CMG Global Holdings LLC’s holdings in Chevron were worth $328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC raised its position in shares of Chevron by 652,139.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after acquiring an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after acquiring an additional 1,574,464 shares during the last quarter. Invesco Ltd. raised its position in shares of Chevron by 5.5% during the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock worth $2,652,437,000 after acquiring an additional 827,851 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Chevron by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after purchasing an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC bought a new stake in Chevron in the first quarter worth approximately $1,466,751,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Melius assumed coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Evercore ISI reiterated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Mizuho lowered their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $160.00 target price (down from $170.00) on shares of Chevron in a report on Friday. Eleven research 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, the company has an average rating of “Hold” and a consensus price target of $165.25.

Chevron Trading Up 0.9%

Shares of Chevron stock opened at $153.12 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a 50 day moving average price of $156.03 and a two-hundred day moving average price of $147.96. The stock has a market capitalization of $264.58 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter last year, the firm posted $2.55 earnings per share. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business 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 of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron’s payout ratio is presently 88.03%.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on 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 $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of Chevron 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 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 position. The disclosure for this sale can be found here. 0.20% of the stock is owned by 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.