Clearwave Capital LLC Makes New $646,000 Investment in Chevron Corporation $CVX

Clearwave Capital LLC bought a new position in shares of Chevron Corporation (NYSE:CVX) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 4,238 shares of the oil and gas company’s stock, valued at approximately $646,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Core Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $26,000. Phillip James Consulting Co. acquired a new position in Chevron during the fourth quarter worth about $26,000. Basso Capital Management L.P. acquired a new position in Chevron during the fourth quarter worth about $27,000. Karpus Management Inc. purchased a new position in Chevron in the fourth quarter valued at about $27,000. Finally, Quattro Advisors LLC purchased a new position in Chevron in the fourth quarter valued at about $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CVX shares. Zacks Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Morgan Stanley raised their price objective on Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Citigroup lifted their price objective on Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Sanford C. Bernstein decreased their target price on Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a research report on Monday, May 11th. Finally, Mizuho upped their target price on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.70.

Chevron Trading Down 0.1%

Shares of CVX stock opened at $173.51 on Friday. The firm has a 50-day moving average price of $186.63 and a 200 day moving average price of $179.01. Chevron Corporation has a twelve month low of $142.40 and a twelve month high of $214.71. The company has a market capitalization of $345.56 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 0.57 and a beta of 0.48. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $51.86 billion. During the same period last year, the company earned $2.18 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts forecast that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were paid a dividend of $1.78 per share. 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 dividend payout ratio is presently 123.40%.

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction that occurred on 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 directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the business’s 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 completion of the transaction, the insider owned 8,638 shares of the company’s stock, valued at $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 615,200 shares of company stock worth $118,022,760 in the last three months. 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.