Chevron Corporation $CVX Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its holdings in shares of Chevron Corporation (NYSE:CVX) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,127,869 shares of the oil and gas company’s stock after selling 9,568 shares during the quarter. King Luther Capital Management Corp owned 0.06% of Chevron worth $171,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. D.B. Root & Company LLC grew its position in shares of Chevron by 1.0% during the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after acquiring an additional 57 shares during the period. Cornerstone Planning Group LLC raised its holdings in Chevron by 6.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company’s stock worth $142,000 after purchasing an additional 59 shares during the period. MMA Asset Management LLC boosted its position in Chevron by 3.4% during the fourth quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company’s stock worth $277,000 after purchasing an additional 59 shares in the last quarter. EWA LLC grew its holdings in Chevron by 2.8% in the fourth quarter. EWA LLC now owns 2,182 shares of the oil and gas company’s stock valued at $333,000 after purchasing an additional 59 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in Chevron by 0.5% in the fourth quarter. Hantz Financial Services Inc. now owns 12,916 shares of the oil and gas company’s stock valued at $1,969,000 after purchasing an additional 59 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CVX. Barclays upped their target price on Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Tudor Pickering raised shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target on the stock in a research note on Thursday, April 9th. Citigroup boosted their price target on shares of Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research report on Friday, March 20th. Finally, UBS Group increased their price objective on shares of Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Morgan Stanley raised its price target on Chevron, signaling improved analyst confidence in the stock’s outlook. Chevron (CVX) Price Target Raised by $2 at Morgan Stanley
• Positive Sentiment: Chevron expanded its Eastern Mediterranean gas strategy by drilling at Egypt’s Narges field and securing a 20-year gas supply deal through the Leviathan partnership in Israel, reinforcing longer-term production and cash-flow potential. Chevron’s Mediterranean Gas Push And What It Could Mean For CVX Valuation
• Positive Sentiment: Chevron’s inclusion among high-yield energy stocks highlights its dividend appeal and relatively stable earnings outlook, which can attract investors seeking defensive income. 5 Top-Ranked High-Yielding Energy Stocks to Buy for a Stable Portfolio
• Neutral Sentiment: Recent commentary noted Chevron’s valuation after a strong share-price run, suggesting the stock has momentum but may already reflect some of the good news. Chevron (CVX) Valuation Check After Strong Recent Share Price Performance
• Neutral Sentiment: Articles quoting Chevron’s CEO on tightening oil and gas supplies point to a potentially favorable pricing backdrop for producers, but they also reflect broader macro uncertainty tied to Middle East conflict. Gas Shortages Are Coming, and Chevron’s CEO Says Economies Will Have to Slow. These Consumer Stocks Are Most at Risk.
• Negative Sentiment: Multiple insiders sold a sizable amount of Chevron stock, which can sometimes be interpreted as caution about near-term upside. Chevron Insiders Sell US$179m Of Stock, Possibly Signalling Caution

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael K. Wirth sold 272,624 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the sale, the chief executive officer directly owned 31,266 shares of the company’s stock, valued at approximately $5,920,217.10. This represents a 89.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,179,699 shares of company stock valued at $224,675,517. 0.56% of the stock is owned by company insiders.

Chevron Stock Performance

NYSE CVX opened at $184.69 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $193.18 and its 200-day simple moving average is $175.24. The company has a market cap of $367.83 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. Chevron Corporation has a 1-year low of $135.21 and a 1-year 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, topping the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same period in the previous year, the business earned $2.18 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s payout ratio is 123.40%.

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.