Stenger Family Office LLC Reduces Stake in Chevron Corporation $CVX

Stenger Family Office LLC lessened its holdings 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.

Several other institutional investors have also recently added to or reduced their stakes in the business. Core Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter valued at approximately $26,000. Phillip James Consulting Co. purchased a new stake in shares of Chevron during the 4th quarter worth approximately $26,000. Basso Capital Management L.P. purchased a new stake in shares of Chevron during the 4th quarter worth approximately $27,000. Karpus Management Inc. acquired a new position in shares of Chevron in the 4th quarter valued at $27,000. Finally, Quattro Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $173.51 on Friday. 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 has a fifty day moving average price of $186.63 and a 200 day moving average price of $179.01. Chevron Corporation has a 1-year low of $142.40 and a 1-year high of $214.71. The company has a market cap of $345.56 billion, a PE ratio of 30.07, a P/E/G ratio of 0.57 and a beta of 0.48.

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

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. Chevron’s payout ratio is presently 123.40%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent analyst reports. Mizuho increased their target price on shares of Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. HSBC raised shares of 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. Citigroup upped their price objective on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. UBS Group raised their price objective on Chevron from $218.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.70.

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were 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 owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction that occurred 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 completion of the sale, the insider directly owned 8,638 shares in the company, valued at $1,842,485.40. This represents a 82.31% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 615,200 shares of company stock worth $118,022,760. Insiders own 0.56% of the company’s stock.

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.