Aster Capital Management DIFC Ltd Cuts Holdings in Chevron Corporation $CVX

Aster Capital Management DIFC Ltd decreased its position in Chevron Corporation (NYSE:CVX) by 60.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,727 shares of the oil and gas company’s stock after selling 8,592 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Chevron were worth $889,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quaker Wealth Management LLC increased its position in shares of Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 439 shares during the last quarter. Decker Retirement Planning Inc. bought a new position in Chevron in the 3rd quarter valued at $34,000. Vermillion & White Wealth Management Group LLC grew its stake in Chevron by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 118 shares during the period. Marquette Asset Management LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at $41,000. Finally, Barnes Dennig Private Wealth Management LLC raised its stake in shares of Chevron by 306.1% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, Vice Chairman Mark A. Nelson sold 45,800 shares of Chevron stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $174.17, for a total transaction of $7,976,986.00. Following the completion of the sale, the insider directly owned 7,161 shares of the company’s stock, valued at approximately $1,247,231.37. The trade was a 86.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Thomas Ryder Booth sold 1,122 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $182.37, for a total transaction of $204,619.14. The SEC filing for this sale provides additional information. Insiders sold a total of 534,898 shares of company stock valued at $89,543,711 over the last three months. Corporate insiders own 0.21% of the company’s stock.

Chevron Trading Down 0.1%

Chevron stock opened at $184.07 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $187.90. The stock has a market cap of $367.29 billion, a P/E ratio of 27.64, a PEG ratio of 12.19 and a beta of 0.70. The firm’s fifty day moving average price is $168.75 and its 200-day moving average price is $159.34.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.08. The company had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The firm’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter last year, the company earned $2.06 earnings per share. Equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be issued a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. Chevron’s payout ratio is presently 106.91%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Chevron from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Citigroup reduced their target price on shares of Chevron from $185.00 to $179.00 and set a “buy” rating for the company in a research report on Monday, January 5th. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and set a $180.00 price target on the stock. in a report on Monday, February 2nd. Wells Fargo & Company increased their price objective on Chevron from $196.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Finally, Sanford C. Bernstein raised their target price on Chevron from $170.00 to $172.00 and gave the stock a “market perform” rating in a research report on Monday, January 5th. Thirteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Chevron has an average rating of “Hold” and an average target price of $176.36.

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.