Breakwater Capital Group Cuts Position in Chevron Corporation $CVX

Breakwater Capital Group decreased its holdings in Chevron Corporation (NYSE:CVX) by 31.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,993 shares of the oil and gas company’s stock after selling 1,394 shares during the quarter. Breakwater Capital Group’s holdings in Chevron were worth $429,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd raised its position in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares in the last quarter. Elequin Capital LP purchased a new position in Chevron in the first quarter worth $31,000. 10Elms LLP purchased a new position in Chevron in the fourth quarter worth $29,000. IFS Advisors LLC raised its position in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 116 shares in the last quarter. Finally, Cloud Capital Management LLC purchased a new position in Chevron in the first quarter worth $39,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CVX shares. Barclays restated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Morgan Stanley started coverage on Chevron in a research report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price target for the company. Wells Fargo & Company restated an “overweight” rating and issued a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. TD Cowen raised their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Finally, Scotiabank restated a “sector perform” rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average price target of $165.05.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was 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 owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the director 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 disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Chevron Stock Up 0.3%

Shares of NYSE:CVX opened at $159.98 on Thursday. 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 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market capitalization of $276.44 billion, a P/E ratio of 20.59, a PEG ratio of 2.00 and a beta of 0.90. The stock has a 50-day simple moving average of $155.13 and a 200-day simple moving average of $148.94.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping 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 business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter in the previous year, the business earned $2.55 EPS. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. Equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current 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%.

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.