Murphy Capital Management Inc. Increases Stake in Chevron Co. (NYSE:CVX)

Murphy Capital Management Inc. raised its position in Chevron Co. (NYSE:CVXGet Rating) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,756 shares of the oil and gas company’s stock after purchasing an additional 328 shares during the period. Chevron accounts for 1.0% of Murphy Capital Management Inc.’s investment portfolio, making the stock its 29th largest holding. Murphy Capital Management Inc.’s holdings in Chevron were worth $7,348,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Your Advocates Ltd. LLP purchased a new position in shares of Chevron in the 1st quarter valued at $25,000. Cordant Inc. purchased a new position in shares of Chevron in the 1st quarter valued at $29,000. Joseph P. Lucia & Associates LLC purchased a new position in shares of Chevron in the 1st quarter valued at $30,000. Landmark Wealth Management LLC purchased a new position in shares of Chevron in the 1st quarter valued at $34,000. Finally, Byrne Asset Management LLC purchased a new position in shares of Chevron in the 4th quarter valued at $36,000. 69.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Cowen increased their price target on shares of Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. Citigroup decreased their price target on shares of Chevron from $170.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 13th. Bank of America increased their price target on shares of Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Morgan Stanley increased their price target on shares of Chevron from $187.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 6th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $172.00 target price on shares of Chevron in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $169.20.

Chevron Stock Performance

Shares of NYSE CVX opened at $155.01 on Thursday. The company has a market cap of $304.57 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 0.61 and a beta of 1.15. Chevron Co. has a 12 month low of $96.24 and a 12 month high of $182.40. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.11. The company has a 50-day simple moving average of $155.36 and a 200-day simple moving average of $160.36.

Chevron (NYSE:CVXGet Rating) last released its earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $1.16. The business had revenue of $68.76 billion for the quarter, compared to analysts’ expectations of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The company’s quarterly revenue was up 82.9% on a year-over-year basis. During the same period last year, the company earned $1.71 earnings per share. On average, equities analysts anticipate that Chevron Co. will post 18.37 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were given a dividend of $1.42 per share. The ex-dividend date was Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.66%. Chevron’s payout ratio is currently 37.89%.

Insider Transactions at Chevron

In other news, EVP James William Johnson sold 85,300 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total transaction of $13,990,053.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP James William Johnson sold 85,300 shares of Chevron stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total value of $13,990,053.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Pierre R. Breber sold 22,500 shares of Chevron stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $161.39, for a total transaction of $3,631,275.00. Following the completion of the sale, the chief financial officer now owns 7 shares of the company’s stock, valued at approximately $1,129.73. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,732 shares of company stock valued at $23,024,499. Corporate insiders own 0.32% of the company’s stock.

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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