Catalyst Funds Management Pty Ltd Increases Stake in Chevron Corporation $CVX

Catalyst Funds Management Pty Ltd lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 170.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 18,200 shares of the oil and gas company’s stock after purchasing an additional 11,480 shares during the period. Chevron comprises about 0.7% of Catalyst Funds Management Pty Ltd’s investment portfolio, making the stock its 25th biggest position. Catalyst Funds Management Pty Ltd’s holdings in Chevron were worth $2,606,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CVX. Kingstone Capital Partners Texas LLC lifted its stake in shares of Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after acquiring an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after purchasing an additional 1,574,464 shares during the period. Invesco Ltd. lifted its position in Chevron by 5.5% in the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after purchasing an additional 827,851 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Chevron by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock valued at $2,054,513,000 after purchasing an additional 40,758 shares during the last quarter. Finally, GQG Partners LLC purchased a new stake in shares of Chevron during the first quarter valued at approximately $1,466,751,000. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Wells Fargo & Company raised their price target on shares of Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 price objective (down from $170.00) on shares of Chevron in a research note on Friday, October 17th. Bank of America increased their target price on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Finally, 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. Eleven investment 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $166.55.

Chevron Price Performance

CVX stock opened at $151.72 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a 50-day moving average of $155.13 and a 200 day moving average of $150.65. The company has a market cap of $305.49 billion, a P/E ratio of 19.53, a PEG ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter in the prior year, the business earned $2.48 EPS. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron’s dividend 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.