Captrust Financial Advisors Raises Position in Chevron Corporation $CVX

Captrust Financial Advisors raised its stake in Chevron Corporation (NYSE:CVX) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,371,010 shares of the oil and gas company’s stock after buying an additional 47,909 shares during the quarter. Captrust Financial Advisors’ holdings in Chevron were worth $208,956,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Core Wealth Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter worth approximately $26,000. Karpus Management Inc. purchased a new stake in shares of Chevron in the fourth quarter worth approximately $27,000. Quattro Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter worth approximately $27,000. Strategic Wealth Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter worth approximately $33,000. Finally, Daytona Street Capital LLC purchased a new stake in shares of Chevron in the fourth quarter worth approximately $44,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX opened at $179.94 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $358.38 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 0.59 and a beta of 0.48. The stock has a 50 day moving average of $188.01 and a 200 day moving average of $178.70. Chevron Corporation has a 12 month low of $142.40 and a 12 month high of $214.71.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.Chevron’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $2.18 earnings per share. As a group, sell-side analysts forecast that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron secured regulatory approval to take a 70% interest in Greece’s offshore Block 10, expanding its Eastern Mediterranean exploration footprint and adding a new strategic growth avenue. Chevron Secures Strategic Entry Into Greece’s Offshore Block 10
• Neutral Sentiment: One recent article argued Chevron may be in a “wait-and-see” zone, noting that the stock has rallied from last summer’s lows but that a recent quarter’s cash flow data makes the dividend outlook look less compelling at the current valuation. Down From Its $209 Peak: This Is Why I’m Standing Pat on Chevron Stock
• Negative Sentiment: Chevron’s shares fell in tandem with crude after the U.S.-Iran news reduced the geopolitical risk premium in oil, pressuring the outlook for near-term earnings and free cash flow across energy stocks. Chevron (CVX) Stock Sinks As Market Gains: Here’s Why

Insiders Place Their Bets

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares of the company’s stock, valued at $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 615,200 shares of company stock valued at $118,022,760 over the last three months. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CVX shares. The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Melius Research raised Chevron from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a research report on Tuesday, February 17th. HSBC raised Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a research report on Friday, March 20th. Sanford C. Bernstein decreased their price target on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. Finally, Mizuho increased their price target on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $205.70.

Chevron Company Profile

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.