Chevron Corporation $CVX Shares Sold by Waterloo Capital L.P.

Waterloo Capital L.P. lowered its position in shares of Chevron Corporation (NYSE:CVX) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,998 shares of the oil and gas company’s stock after selling 398 shares during the period. Waterloo Capital L.P.’s holdings in Chevron were worth $1,145,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Solitude Financial Services increased its position in shares of Chevron by 8.2% during the second quarter. Solitude Financial Services now owns 25,325 shares of the oil and gas company’s stock worth $3,626,000 after purchasing an additional 1,913 shares in the last quarter. Shell Asset Management Co. boosted its position in shares of Chevron by 21.4% in the 2nd quarter. Shell Asset Management Co. now owns 51,115 shares of the oil and gas company’s stock valued at $7,319,000 after purchasing an additional 9,002 shares during the period. Mutual Advisors LLC boosted its position in shares of Chevron by 7.3% in the 2nd quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock valued at $13,743,000 after purchasing an additional 6,058 shares during the period. Costello Asset Management INC grew its stake in Chevron by 26.9% during the 2nd quarter. Costello Asset Management INC now owns 16,694 shares of the oil and gas company’s stock worth $2,390,000 after buying an additional 3,541 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in Chevron by 25.7% during the first quarter. Jones Financial Companies Lllp now owns 697,011 shares of the oil and gas company’s stock worth $115,887,000 after buying an additional 142,662 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. TD Cowen upped their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Morgan Stanley raised their price objective on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Piper Sandler reduced their target price on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Finally, Mizuho boosted their price target on Chevron from $191.00 to $204.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $166.55.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction 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 approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by corporate insiders.

Chevron Trading Down 0.3%

Shares of Chevron stock opened at $149.93 on Monday. The firm has a market cap of $301.89 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company’s 50-day simple moving average is $154.83 and its 200-day simple moving average is $150.95. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating 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 firm had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter last year, the firm earned $2.48 earnings per share. The firm’s revenue was down 1.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm 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. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. 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.