EagleClaw Capital Managment LLC Lowers Position in Chevron Corporation $CVX

EagleClaw Capital Managment LLC trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,190 shares of the oil and gas company’s stock after selling 375 shares during the quarter. Chevron accounts for approximately 1.5% of EagleClaw Capital Managment LLC’s portfolio, making the stock its 24th largest holding. EagleClaw Capital Managment LLC’s holdings in Chevron were worth $9,764,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd grew its position in Chevron by 420.7% in the 1st 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 bought a new position in shares of Chevron during the 1st quarter worth approximately $31,000. Quaker Wealth Management LLC boosted its stake in shares of Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after buying an additional 439 shares during the last quarter. IMG Wealth Management Inc. grew its holdings in shares of Chevron by 52.3% in the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 91 shares in the last quarter. Finally, Investment Management Corp VA ADV grew its holdings in shares of Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 149 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction on 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 owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s 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 directly 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 disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CVX shares. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Bank of America raised their target price on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Piper Sandler cut their price target on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Raymond James Financial restated an “outperform” rating and set a $160.00 price objective (down previously from $170.00) on shares of Chevron in a report on Friday, October 17th. One equities research 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. Based on data from MarketBeat, Chevron has a consensus rating of “Hold” and an average target price of $165.45.

Chevron Stock Down 1.8%

CVX stock opened at $153.38 on Thursday. The stock has a fifty day moving average of $155.24 and a 200-day moving average of $150.07. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a market capitalization of $308.84 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 4.40 and a beta of 0.83. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX) last announced 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 business had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.48 EPS. As a group, equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s dividend payout ratio (DPR) 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.