Wellington Shields Capital Management LLC Has $595,000 Position in Chevron Corporation $CVX

Wellington Shields Capital Management LLC lessened its stake in Chevron Corporation (NYSE:CVX) by 58.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,155 shares of the oil and gas company’s stock after selling 5,900 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Chevron were worth $595,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd lifted its position in shares of 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 purchasing an additional 122 shares in the last quarter. Elequin Capital LP acquired a new stake in shares of Chevron during the 1st quarter worth about $31,000. Quaker Wealth Management LLC grew its position in shares of Chevron by 197.7% in 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. increased its position in Chevron by 52.3% during 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 during the period. Finally, Cloud Capital Management LLC acquired a new stake in Chevron in the 1st quarter worth about $39,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the business’s 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 sale, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $59,362,500.00. Following the sale, 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. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CVX. Raymond James Financial reissued an “outperform” rating and set a $160.00 target price (down from $170.00) on shares of Chevron in a report on Friday, October 17th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Morgan Stanley began coverage on Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price for the company. Wells Fargo & Company began coverage on shares of Chevron in a research note on Friday, October 17th. They issued an “overweight” rating and a $190.00 price objective on the stock. Finally, TD Cowen lifted their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Chevron presently has an average rating of “Hold” and a consensus price target of $165.25.

Chevron Price Performance

CVX opened at $157.58 on Monday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The firm’s fifty day moving average price is $156.07 and its two-hundred day moving average price is $149.20. The company has a market capitalization of $272.30 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 4.40 and a beta of 0.84.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. The firm had revenue of $49.73 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.48 EPS. As a group, 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 will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Tuesday, November 18th. Chevron’s payout ratio is presently 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.