Hamilton Capital LLC Lowers Holdings in Chevron Corporation $CVX

Hamilton Capital LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX) by 18.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,699 shares of the oil and gas company’s stock after selling 3,885 shares during the period. Chevron accounts for about 0.1% of Hamilton Capital LLC’s investment portfolio, making the stock its 19th largest position. Hamilton Capital LLC’s holdings in Chevron were worth $2,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of CVX. Midwest Capital Advisors LLC purchased a new position in Chevron during the first quarter worth approximately $25,000. Core Wealth Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter valued at $26,000. Phillip James Consulting Co. acquired a new stake in shares of Chevron during the 4th quarter worth $26,000. Basso Capital Management L.P. purchased a new position in shares of Chevron in the 4th quarter worth $27,000. Finally, Karpus Management Inc. purchased a new position in shares of Chevron in the 4th quarter worth $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Andrew Benjamin Walz sold 16,800 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the sale, the insider directly owned 14 shares of the company’s stock, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael K. Wirth sold 317,100 shares of Chevron stock in a transaction on Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the sale, the chief executive officer directly owned 26,308 shares in the company, valued at $5,273,701.68. This trade represents a 92.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,152,582 shares of company stock valued at $225,853,661 over the last ninety days. 0.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Sanford C. Bernstein lifted their price objective on Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Jefferies Financial Group restated a “buy” rating and issued a $216.00 price target on shares of Chevron in a report on Friday, July 10th. Mizuho set a $224.00 price target on shares of Chevron in a research report on Monday, August 3rd. Piper Sandler assumed coverage on shares of Chevron in a research note on Thursday, July 23rd. They set an “overweight” rating and a $207.00 price objective for the company. Finally, Zacks Research lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Twenty investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $207.48.

Chevron Stock Performance

Shares of NYSE:CVX opened at $199.91 on Friday. The business’s 50-day simple moving average is $186.87 and its 200 day simple moving average is $188.76. The company has a market cap of $394.98 billion, a P/E ratio of 19.17, a PEG ratio of 0.60 and a beta of 0.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.Chevron’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.77 EPS. On average, sell-side analysts forecast that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $1.78 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. Chevron’s dividend payout ratio is 68.26%.

Chevron 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.