CoreCap Advisors LLC Cuts Stake in Chevron Corporation $CVX

CoreCap Advisors LLC decreased its stake in Chevron Corporation (NYSE:CVXFree Report) by 45.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,647 shares of the oil and gas company’s stock after selling 22,843 shares during the period. CoreCap Advisors LLC’s holdings in Chevron were worth $4,293,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Quaker Wealth Management LLC grew its position in Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 439 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its position in shares of Chevron by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 118 shares in the last quarter. IMG Wealth Management Inc. boosted its stake 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 purchasing an additional 91 shares during the period. GFG Capital LLC acquired a new stake in Chevron during the 2nd quarter valued at $42,000. Finally, LFA Lugano Financial Advisors SA increased its stake in Chevron by 106.7% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 310 shares of the oil and gas company’s stock worth $44,000 after buying an additional 160 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 320,700 shares of Chevron stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the transaction, the chief executive officer directly owned 14,450 shares of the company’s stock, valued at $2,355,205.50. The trade was a 95.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director directly owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. The trade was a 19.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 631,990 shares of company stock worth $99,716,808 over the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $160.00 price objective (down from $170.00) on shares of Chevron in a research report on Friday, October 17th. Morgan Stanley increased their price target on Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. HSBC set a $169.00 target price on Chevron and gave the company a “buy” rating in a research report on Monday, December 1st. Finally, Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $166.90.

Check Out Our Latest Analysis on Chevron

Key Chevron News

Here are the key news stories impacting Chevron this week:

Chevron Stock Down 0.9%

Chevron stock opened at $155.20 on Thursday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market cap of $312.50 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 9.80 and a beta of 0.70. The company’s 50-day moving average price is $152.10 and its two-hundred day moving average price is $153.27. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVXGet Free Report) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The business had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same period last year, the firm posted $2.48 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. On average, analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were given a dividend of $1.71 per share. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio (DPR) is 96.20%.

About Chevron

(Free Report)

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

Further Reading

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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