Hexagon Capital Partners LLC Sells 1,014 Shares of Chevron Co. (NYSE:CVX)

Hexagon Capital Partners LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 11.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,071 shares of the oil and gas company’s stock after selling 1,014 shares during the period. Chevron accounts for approximately 0.3% of Hexagon Capital Partners LLC’s portfolio, making the stock its 25th biggest position. Hexagon Capital Partners LLC’s holdings in Chevron were worth $1,204,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CVX. Windsor Advisory Group LLC increased its holdings in shares of Chevron by 24.0% in the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after purchasing an additional 720 shares in the last quarter. Renaissance Investment Group LLC increased its holdings in Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after buying an additional 697 shares in the last quarter. Altrius Capital Management Inc lifted its stake in Chevron by 2.1% during the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after acquiring an additional 434 shares during the period. Camelot Portfolios LLC purchased a new stake in shares of Chevron during the 4th quarter valued at about $254,000. Finally, Kapstone Financial Advisors LLC grew its stake in shares of Chevron by 5.3% in the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after acquiring an additional 211 shares during the period. 72.42% of the stock is owned by institutional investors.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Chevron Stock Down 0.9 %

Shares of NYSE:CVX traded down $1.47 during trading hours on Wednesday, hitting $159.80. The company’s stock had a trading volume of 1,085,286 shares, compared to its average volume of 8,364,558. The firm’s fifty day moving average price is $156.96 and its 200 day moving average price is $151.68. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a market capitalization of $296.79 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 2.43 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.55 earnings per share. As a group, research analysts expect that Chevron Co. will post 13.71 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.08%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CVX. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. Piper Sandler lifted their target price on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Royal Bank of Canada increased their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. UBS Group increased their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

Chevron Company Profile

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