EagleClaw Capital Managment LLC Trims Stake in Chevron Corporation $CVX

EagleClaw Capital Managment LLC lessened its holdings in Chevron Corporation (NYSE:CVX) by 0.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,190 shares of the oil and gas company’s stock after selling 375 shares during the period. Chevron accounts for approximately 1.5% of EagleClaw Capital Managment LLC’s portfolio, making the stock its 24th largest holding. EagleClaw Capital Managment LLC’s holdings in Chevron were worth $9,764,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd grew its holdings in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares in the last quarter. Elequin Capital LP purchased a new stake in Chevron in the first quarter valued at approximately $31,000. Quaker Wealth Management LLC lifted its position in Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares during the last quarter. IMG Wealth Management Inc. grew its stake in Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after buying an additional 91 shares in the last quarter. Finally, Investment Management Corp VA ADV increased its holdings 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 worth $39,000 after buying an additional 149 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other news, 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 transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were 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 approximately $222,102,023.50. This represents a 21.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on CVX shares. Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 price objective (down from $170.00) on shares of Chevron in a report on Friday, October 17th. Bank of America raised their price target on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Evercore ISI reaffirmed an “outperform” rating and set a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Piper Sandler cut their price objective on Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a report on Monday. Finally, Melius Research began coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $165.45.

Chevron Stock Performance

NYSE CVX opened at $153.38 on Thursday. The company has a 50-day simple moving average of $155.24 and a two-hundred day simple moving average of $150.07. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The firm has a market cap of $308.84 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 4.40 and a beta of 0.83. 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) last released its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The company had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.48 EPS. On average, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be given a $1.71 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s payout ratio is presently 96.20%.

Chevron 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.