Chevron Corporation $CVX Shares Purchased by Woodline Partners LP

Woodline Partners LP raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 40.7% in the first quarter, Holdings Channel.com reports. The firm owned 141,200 shares of the oil and gas company’s stock after buying an additional 40,832 shares during the period. Woodline Partners LP’s holdings in Chevron were worth $23,621,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd grew its stake in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares in the last quarter. 10Elms LLP acquired a new stake in Chevron during the 4th quarter valued at approximately $29,000. Elequin Capital LP acquired a new stake in Chevron during the 1st quarter valued at approximately $31,000. IFS Advisors LLC grew its stake in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Finally, Cloud Capital Management LLC acquired a new stake in Chevron during the 1st quarter valued at approximately $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.4%

Shares of NYSE CVX opened at $154.64 on Wednesday. The company has a market cap of $267.22 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 2.28 and a beta of 0.90. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The stock’s 50 day simple moving average is $154.09 and its 200 day simple moving average is $148.82.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the business posted $2.55 EPS. Equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio (DPR) is 88.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Raymond James Financial restated an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. TD Cowen boosted their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. UBS Group boosted their price target on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Finally, Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $163.95.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the firm’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 sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the firm’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 sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

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.