Climber Capital SA Makes New $242,000 Investment in Chevron Corporation $CVX

Climber Capital SA acquired a new stake in Chevron Corporation (NYSE:CVX) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 1,696 shares of the oil and gas company’s stock, valued at approximately $242,000.

Several other hedge funds also recently made changes to their positions in CVX. Penserra Capital Management LLC boosted its holdings in shares of Chevron by 17.6% during the first quarter. Penserra Capital Management LLC now owns 5,155 shares of the oil and gas company’s stock worth $862,000 after purchasing an additional 773 shares during the period. Trek Financial LLC increased its holdings in Chevron by 16.5% during the 1st quarter. Trek Financial LLC now owns 9,298 shares of the oil and gas company’s stock valued at $1,555,000 after purchasing an additional 1,316 shares during the period. Silverlake Wealth Management LLC raised its position in Chevron by 0.7% during the 1st quarter. Silverlake Wealth Management LLC now owns 10,929 shares of the oil and gas company’s stock valued at $1,828,000 after purchasing an additional 78 shares during the last quarter. CORDA Investment Management LLC. lifted its holdings in Chevron by 12.1% in the 1st quarter. CORDA Investment Management LLC. now owns 15,470 shares of the oil and gas company’s stock worth $2,588,000 after buying an additional 1,664 shares during the period. Finally, Optimum Investment Advisors grew its position in shares of Chevron by 10.7% in the 1st quarter. Optimum Investment Advisors now owns 4,252 shares of the oil and gas company’s stock worth $711,000 after buying an additional 410 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated 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 directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Chevron Stock Down 0.4%

Shares of Chevron stock opened at $152.76 on Thursday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a market cap of $263.97 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 4.40 and a beta of 0.84. The company has a 50-day moving average of $155.78 and a 200 day moving average of $149.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 $49.73 billion for the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter in the prior year, the company earned $2.48 earnings per share. The business’s revenue was down 1.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal 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 paid a dividend of $1.71 per share. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron’s payout ratio is presently 96.20%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent analyst reports. Evercore ISI restated an “outperform” rating and set a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Barclays decreased their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Morgan Stanley lifted their target price on shares of Chevron from $174.00 to $177.00 and gave the company an “overweight” rating in a research note on Monday. Melius started coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Finally, Wells Fargo & Company began coverage on shares of Chevron in a report on Friday, October 17th. They issued an “overweight” rating and a $190.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $165.40.

Chevron Company 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.