Oarsman Capital Inc. Sells 6,731 Shares of Chevron Co. (NYSE:CVX)

Oarsman Capital Inc. lessened its stake in Chevron Co. (NYSE:CVX) by 45.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,067 shares of the oil and gas company’s stock after selling 6,731 shares during the period. Oarsman Capital Inc.’s holdings in Chevron were worth $585,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CVX. Cypress Asset Management Inc. TX raised its holdings in Chevron by 0.4% during the 4th quarter. Cypress Asset Management Inc. TX now owns 24,062 shares of the oil and gas company’s stock valued at $2,900,000 after buying an additional 98 shares during the last quarter. Nikulski Financial Inc. raised its holdings in Chevron by 3.1% during the 4th quarter. Nikulski Financial Inc. now owns 3,373 shares of the oil and gas company’s stock valued at $372,000 after buying an additional 100 shares during the last quarter. A. D. Beadell Investment Counsel Inc. raised its holdings in Chevron by 1.0% during the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 10,419 shares of the oil and gas company’s stock valued at $1,255,000 after buying an additional 100 shares during the last quarter. Point View Wealth Management Inc. raised its holdings in Chevron by 0.4% during the 4th quarter. Point View Wealth Management Inc. now owns 24,134 shares of the oil and gas company’s stock valued at $2,908,000 after buying an additional 101 shares during the last quarter. Finally, Chase Investment Counsel Corp raised its holdings in Chevron by 4.0% during the 4th quarter. Chase Investment Counsel Corp now owns 2,648 shares of the oil and gas company’s stock valued at $319,000 after buying an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 64.86% of the company’s stock.

Shares of NYSE CVX traded up $0.55 during trading on Tuesday, reaching $93.34. 5,094,061 shares of the company traded hands, compared to its average volume of 9,683,845. The firm has a 50 day simple moving average of $89.34 and a 200-day simple moving average of $101.02. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $176.69 billion, a PE ratio of 45.82 and a beta of 1.30. Chevron Co. has a 52-week low of $51.60 and a 52-week high of $127.00.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $1.29. The firm had revenue of $31.50 billion for the quarter, compared to the consensus estimate of $30.46 billion. Chevron had a net margin of 2.71% and a return on equity of 8.28%. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.47 EPS. As a group, research analysts predict that Chevron Co. will post -0.03 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date of this dividend is Monday, May 18th. Chevron’s payout ratio is presently 82.30%.

A number of research firms recently commented on CVX. TheStreet lowered shares of Chevron from a “b-” rating to a “c+” rating in a report on Thursday, February 27th. Bank of America upped their price objective on shares of Chevron from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, April 20th. JPMorgan Chase & Co. upped their price objective on shares of Chevron from $97.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Raymond James decreased their price objective on shares of Chevron from $125.00 to $105.00 and set an “outperform” rating for the company in a report on Tuesday, March 17th. Finally, Independent Research lowered shares of Chevron to a “hold” rating in a report on Tuesday, April 14th. Seven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $112.27.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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