Martin Capital Partners LLC Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

Martin Capital Partners LLC trimmed its position in shares of Chevron Co. (NYSE:CVXGet Rating) by 19.8% in the second quarter, HoldingsChannel.com reports. The fund owned 36,686 shares of the oil and gas company’s stock after selling 9,038 shares during the period. Chevron accounts for 2.5% of Martin Capital Partners LLC’s holdings, making the stock its 15th largest position. Martin Capital Partners LLC’s holdings in Chevron were worth $5,311,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. KRS Capital Management LLC purchased a new position in shares of Chevron in the 4th quarter valued at about $177,000. Axiom Advisory LLC purchased a new position in shares of Chevron in the 4th quarter valued at about $573,000. Invesco Ltd. boosted its stake in shares of Chevron by 6.8% in the 4th quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock valued at $1,689,870,000 after buying an additional 917,773 shares during the period. GHP Investment Advisors Inc. raised its position in shares of Chevron by 2.1% during the 4th quarter. GHP Investment Advisors Inc. now owns 20,096 shares of the oil and gas company’s stock worth $2,358,000 after acquiring an additional 405 shares in the last quarter. Finally, Quilter Plc raised its position in shares of Chevron by 53.3% during the 4th quarter. Quilter Plc now owns 397,254 shares of the oil and gas company’s stock worth $47,377,000 after acquiring an additional 138,153 shares in the last quarter. 69.30% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 2.6 %

Chevron stock opened at $156.45 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.11. Chevron Co. has a 1-year low of $93.31 and a 1-year high of $182.40. The company has a market cap of $307.39 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 0.60 and a beta of 1.15. The stock’s 50 day moving average price is $154.36 and its 200 day moving average price is $160.41.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $1.16. The firm had revenue of $68.76 billion for the quarter, compared to the consensus estimate of $57.69 billion. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The company’s revenue for the quarter was up 82.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.71 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 18.4 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were given a dividend of $1.42 per share. The ex-dividend date was Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a yield of 3.63%. Chevron’s payout ratio is 37.89%.

Insiders Place Their Bets

In other Chevron news, EVP James William Johnson sold 85,300 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $164.01, for a total transaction of $13,990,053.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP James William Johnson sold 85,300 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $164.01, for a total value of $13,990,053.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Wanda M. Austin sold 11,432 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $161.45, for a total value of $1,845,696.40. Following the completion of the sale, the director now owns 3,560 shares in the company, valued at $574,762. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 141,732 shares of company stock worth $23,024,499. 0.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Credit Suisse Group reissued an “outperform” rating and set a $202.00 target price on shares of Chevron in a research report on Thursday, August 11th. Citigroup cut their target price on Chevron from $170.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 13th. Cowen raised their target price on Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, August 15th. Bank of America lifted their price target on Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $172.00 price target on shares of Chevron in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $169.20.

Chevron Company Profile

(Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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