Marathon Capital Management Trims Stock Position in Chevron Co. (NYSE:CVX)

Marathon Capital Management trimmed its stake in Chevron Co. (NYSE:CVXFree Report) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,479 shares of the oil and gas company’s stock after selling 427 shares during the period. Chevron accounts for about 1.7% of Marathon Capital Management’s investment portfolio, making the stock its 12th biggest holding. Marathon Capital Management’s holdings in Chevron were worth $6,784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CVX. Picton Mahoney Asset Management bought a new position in shares of Chevron in the 3rd quarter worth about $26,000. Bare Financial Services Inc bought a new position in shares of Chevron during the fourth quarter valued at approximately $27,000. Valley Forge Investment Consultants Inc. ADV lifted its holdings in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Chevron in the 4th quarter worth approximately $33,000. Finally, Roble Belko & Company Inc grew its stake in shares of Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the sale, the director now directly owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the transaction, the director now owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at $45,540. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,796 shares of company stock worth $2,575,361. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Barclays assumed coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. Mizuho raised their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Raymond James upped their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, HSBC lifted their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $186.10.

Get Our Latest Stock Report on CVX

Chevron Trading Up 1.0 %

Shares of NYSE:CVX traded up $1.58 during trading on Friday, reaching $162.67. The company’s stock had a trading volume of 5,497,919 shares, compared to its average volume of 7,496,353. The firm’s 50 day simple moving average is $159.73 and its two-hundred day simple moving average is $152.11. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The stock has a market capitalization of $300.45 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 2.40 and a beta of 1.11.

Chevron (NYSE:CVXGet Free Report) last announced its earnings results 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. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the previous year, the business earned $3.55 EPS. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, research analysts predict that Chevron Co. will post 13.57 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Chevron Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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