Chevron Corporation $CVX Shares Sold by Stenger Family Office LLC

Stenger Family Office LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX) by 67.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,405 shares of the oil and gas company’s stock after selling 17,587 shares during the period. Stenger Family Office LLC’s holdings in Chevron were worth $1,281,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. S Harris Financial Group LLC purchased a new position in shares of Chevron in the 4th quarter valued at about $244,000. EJMK Ventures LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $544,000. Targeted Financial Services LLC purchased a new stake in Chevron during the fourth quarter worth about $501,000. WMS Group LLC purchased a new stake in Chevron during the fourth quarter worth about $245,000. Finally, Tulsa Wealth Advisors INC acquired a new position in Chevron during the fourth quarter worth about $972,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE CVX opened at $173.51 on Friday. 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’s 50-day moving average price is $186.63 and its 200 day moving average price is $179.01. Chevron Corporation has a 52 week low of $142.40 and a 52 week high of $214.71. The stock has a market cap of $345.56 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 0.57 and a beta of 0.48.

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

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is 123.40%.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction on Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the sale, the insider owned 8,638 shares in the company, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 615,200 shares of company stock valued at $118,022,760. Corporate insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CVX. Mizuho increased their target price on shares of Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target on the stock in a research note on Friday, April 17th. Citigroup upped their price target on Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. TD Cowen raised their price objective on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $205.70.

About Chevron

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.