Thoroughbred Financial Services LLC Decreases Stock Position in Chevron Corporation $CVX

Thoroughbred Financial Services LLC cut its stake in Chevron Corporation (NYSE:CVX) by 17.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,046 shares of the oil and gas company’s stock after selling 8,491 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Chevron were worth $5,591,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CVX. Analyst IMS Investment Management Services Ltd. raised its position in Chevron by 1.0% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock worth $966,000 after purchasing an additional 67 shares during the period. Greenfield Savings Bank grew its stake in shares of Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after buying an additional 68 shares during the last quarter. Atwater Malick LLC raised its holdings in shares of Chevron by 2.4% in the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock worth $413,000 after buying an additional 68 shares during the period. Hubbell Strickland Wealth Management LLC lifted its stake in shares of Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock worth $1,443,000 after acquiring an additional 68 shares during the last quarter. Finally, Clarity Wealth Advisors LLC boosted its holdings in Chevron by 1.7% during the 2nd quarter. Clarity Wealth Advisors LLC now owns 4,170 shares of the oil and gas company’s stock valued at $597,000 after acquiring an additional 69 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their target price on Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Raymond James Financial reissued an “outperform” rating and issued a $160.00 price objective (down from $170.00) on shares of Chevron in a research report on Friday, October 17th. Mizuho upped their target price on shares of Chevron from $191.00 to $204.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $166.55.

Insider Transactions at Chevron

In other Chevron news, 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 transaction, 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were 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. The trade was a 21.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by company insiders.

Chevron Trading Up 1.3%

NYSE CVX opened at $157.61 on Friday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. 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 company has a market capitalization of $317.35 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. The company’s 50-day simple moving average is $155.26 and its two-hundred day simple moving average is $150.22.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $2.48 earnings per share. Equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio is 96.20%.

About Chevron

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.