Chevron Co. (NYSE:CVX) Shares Acquired by Richard C. Young & CO. LTD.

Richard C. Young & CO. LTD. grew its position in Chevron Co. (NYSE:CVXGet Rating) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,967 shares of the oil and gas company’s stock after purchasing an additional 678 shares during the period. Chevron makes up approximately 1.8% of Richard C. Young & CO. LTD.’s holdings, making the stock its 19th largest holding. Richard C. Young & CO. LTD.’s holdings in Chevron were worth $14,324,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of Chevron by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 32,250,237 shares of the oil and gas company’s stock valued at $3,776,323,000 after buying an additional 667,875 shares during the period. Norges Bank purchased a new stake in shares of Chevron during the 4th quarter valued at about $3,111,594,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Chevron by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,507,398 shares of the oil and gas company’s stock valued at $1,702,446,000 after buying an additional 254,353 shares during the period. Invesco Ltd. raised its holdings in shares of Chevron by 6.8% during the 4th quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock valued at $1,689,870,000 after buying an additional 917,773 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Chevron by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,326,228 shares of the oil and gas company’s stock valued at $977,069,000 after buying an additional 346,881 shares during the period. 65.89% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 1.7 %

NYSE:CVX opened at $153.64 on Friday. Chevron Co. has a 12-month low of $92.86 and a 12-month high of $182.40. The firm has a market capitalization of $301.87 billion, a P/E ratio of 10.25, a P/E/G ratio of 0.61 and a beta of 1.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. The business has a 50 day simple moving average of $154.37 and a 200 day simple moving average of $155.35.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $1.16. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The business had revenue of $68.76 billion during the quarter, compared to analyst estimates of $57.69 billion. During the same quarter in the previous year, the firm posted $1.71 EPS. The business’s revenue for the quarter was up 82.9% compared to the same quarter last year. Equities research analysts predict that Chevron Co. will post 17.51 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Friday, August 19th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a yield of 3.70%. Chevron’s dividend payout ratio is currently 37.89%.

Insider Activity at Chevron

In related news, VP Rhonda J. Morris sold 59,700 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $167.19, for a total transaction of $9,981,243.00. Following the completion of the transaction, the vice president now owns 830 shares in the company, valued at approximately $138,767.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chevron news, Director Wanda M. Austin sold 11,432 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the transaction, the director now owns 3,560 shares in the company, valued at approximately $574,762. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Rhonda J. Morris sold 59,700 shares of the business’s stock in a transaction on Friday, May 13th. The stock was sold at an average price of $167.19, for a total value of $9,981,243.00. Following the transaction, the vice president now owns 830 shares of the company’s stock, valued at approximately $138,767.70. The disclosure for this sale can be found here. Insiders sold 399,043 shares of company stock worth $67,010,843 in the last 90 days. 0.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on CVX. Societe Generale upgraded Chevron from a “hold” rating to a “buy” rating in a report on Thursday. Citigroup dropped their price objective on Chevron from $170.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 13th. The Goldman Sachs Group restated a “neutral” rating and set a $172.00 price objective on shares of Chevron in a report on Thursday. Bank of America lifted their price objective on Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, August 1st. Finally, Cowen dropped their price objective on Chevron from $179.00 to $160.00 and set an “outperform” rating on the stock in a report on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.00.

Chevron Company Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 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.

Further Reading

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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