King Luther Capital Management Corp Sells 39,851 Shares of Chevron Corporation $CVX

King Luther Capital Management Corp lessened its stake in shares of Chevron Corporation (NYSE:CVX) by 3.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,138,345 shares of the oil and gas company’s stock after selling 39,851 shares during the period. King Luther Capital Management Corp owned about 0.07% of Chevron worth $163,000,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CVX. Gateway Wealth Partners LLC bought a new stake in Chevron during the first quarter worth $210,000. American Financial Advisors LLC acquired a new position in shares of Chevron during the 1st quarter worth about $202,000. IFC Advisors LLC raised its holdings in shares of Chevron by 4.3% in the 1st quarter. IFC Advisors LLC now owns 16,355 shares of the oil and gas company’s stock valued at $2,736,000 after purchasing an additional 680 shares during the period. Riversedge Advisors LLC lifted its stake in Chevron by 7.4% in the 1st quarter. Riversedge Advisors LLC now owns 4,135 shares of the oil and gas company’s stock valued at $692,000 after purchasing an additional 285 shares during the last quarter. Finally, SkyOak Wealth LLC lifted its stake in Chevron by 1.7% in the 1st quarter. SkyOak Wealth LLC now owns 5,571 shares of the oil and gas company’s stock valued at $932,000 after purchasing an additional 93 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director John B. Hess sold 375,000 shares of the stock in a transaction 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 sale, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on Chevron from $174.00 to $177.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Scotiabank boosted their target price on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Wells Fargo & Company started coverage on shares of Chevron in a report on Friday, October 17th. They set an “overweight” rating and a $190.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $165.40.

Chevron Trading Up 1.4%

Shares of Chevron stock opened at $155.10 on Friday. 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 firm has a 50-day moving average of $155.55 and a 200-day moving average of $149.71. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The stock has a market cap of $268.01 billion, a PE ratio of 19.96, a PEG ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter in the previous year, the company earned $2.48 EPS. The business’s revenue was down 1.9% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, November 18th. Chevron’s payout ratio is 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.