Homrich & Berg Trims Position in Chevron Co. (CVX)

Homrich & Berg lowered its holdings in Chevron Co. (NYSE:CVX) by 40.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,384 shares of the oil and gas company’s stock after selling 10,434 shares during the quarter. Homrich & Berg’s holdings in Chevron were worth $1,945,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in Chevron by 4.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,026,526 shares of the oil and gas company’s stock worth $1,485,545,000 after acquiring an additional 549,931 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Chevron by 2.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 8,933,341 shares of the oil and gas company’s stock worth $1,129,443,000 after acquiring an additional 204,547 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Chevron by 0.4% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,624,550 shares of the oil and gas company’s stock worth $869,505,000 after acquiring an additional 31,022 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Chevron by 10.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,391,206 shares of the oil and gas company’s stock worth $808,040,000 after acquiring an additional 594,253 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Chevron by 3.6% during the 2nd quarter. Swiss National Bank now owns 6,360,623 shares of the oil and gas company’s stock worth $804,174,000 after acquiring an additional 222,500 shares during the last quarter. 64.66% of the stock is owned by institutional investors and hedge funds.

In related news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction dated Thursday, October 11th. The stock was sold at an average price of $119.97, for a total value of $569,857.50. Following the sale, the insider now directly owns 4,750 shares in the company, valued at approximately $569,857.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.

A number of equities research analysts have recently commented on CVX shares. Goldman Sachs Group upgraded Chevron from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, October 2nd. 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. Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $137.00 target price on the stock in a research note on Monday, October 1st. Piper Jaffray Companies reiterated an “overweight” rating on shares of Chevron in a research note on Tuesday, October 23rd. Finally, Bank of America cut Chevron from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $150.00 to $135.00 in a research note on Thursday, September 6th. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $138.13.

Shares of Chevron stock opened at $119.51 on Friday. Chevron Co. has a 52-week low of $107.54 and a 52-week high of $133.88. The stock has a market capitalization of $231.60 billion, a P/E ratio of 32.30, a PEG ratio of 2.07 and a beta of 1.12. The company has a current ratio of 1.08, a quick ratio of 0.87 and a debt-to-equity ratio of 0.20.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $43.99 billion for the quarter, compared to analysts’ expectations of $47.17 billion. During the same period in the previous year, the business posted $1.03 EPS. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Co. will post 8.31 EPS for the current year.

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

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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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