Chevron Co. (CVX) Stake Lifted by Stevens Capital Management LP

Stevens Capital Management LP lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 155.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,720 shares of the oil and gas company’s stock after purchasing an additional 90,608 shares during the quarter. Stevens Capital Management LP’s holdings in Chevron were worth $18,803,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Reilly Herbert Faulkner III boosted its stake in Chevron by 4.5% in the first quarter. Reilly Herbert Faulkner III now owns 30,697 shares of the oil and gas company’s stock worth $3,501,000 after buying an additional 1,334 shares in the last quarter. AMG National Trust Bank boosted its stake in Chevron by 19.6% in the second quarter. AMG National Trust Bank now owns 6,354 shares of the oil and gas company’s stock worth $803,000 after buying an additional 1,041 shares in the last quarter. Fiera Capital Corp boosted its stake in Chevron by 1.6% in the first quarter. Fiera Capital Corp now owns 298,283 shares of the oil and gas company’s stock worth $34,016,000 after buying an additional 4,800 shares in the last quarter. BP PLC boosted its stake in Chevron by 10.6% in the second quarter. BP PLC now owns 240,000 shares of the oil and gas company’s stock worth $30,334,000 after buying an additional 23,000 shares in the last quarter. Finally, Altman Advisors Inc. boosted its stake in Chevron by 84.8% in the second quarter. Altman Advisors Inc. now owns 32,450 shares of the oil and gas company’s stock worth $2,115,000 after buying an additional 14,891 shares in the last quarter. 64.66% of the stock is owned by institutional investors.

Shares of CVX stock opened at $119.51 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. Chevron Co. has a fifty-two week low of $107.54 and a fifty-two week high of $133.88. The company has a market capitalization of $231.60 billion, a price-to-earnings ratio of 32.30, a P/E/G ratio of 2.07 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.05. Chevron had a return on equity of 8.24% and a net margin of 8.79%. The firm had revenue of $43.99 billion during the quarter, compared to the consensus estimate of $47.17 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The business’s revenue was up 21.5% on a year-over-year basis. On average, equities analysts predict that Chevron Co. will post 8.31 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be given a $1.12 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $4.48 annualized dividend and a yield of 3.75%. Chevron’s payout ratio is currently 121.08%.

In other Chevron news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $119.97, for a total value of $569,857.50. Following the completion of the sale, the insider now owns 4,750 shares in the company, valued at $569,857.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

Several analysts have issued reports on the company. Royal Bank of Canada set a $150.00 target price on Chevron and gave the stock a “hold” rating in a research note on Thursday, September 20th. Berenberg Bank assumed coverage on Chevron in a research note on Tuesday, September 11th. They issued a “hold” rating and a $135.00 target price for the company. Bank of America lowered Chevron from a “buy” rating to a “neutral” rating and cut their target price for the stock from $150.00 to $135.00 in a research note on Thursday, September 6th. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a research note on Monday, October 1st. Finally, Credit Suisse Group raised Chevron from a “neutral” rating to an “outperform” rating and set a $138.00 target price for the company in a research note on Monday, November 5th. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Chevron currently has an average rating of “Buy” and a consensus target price of $138.13.

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Chevron 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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