Cubist Systematic Strategies LLC Boosts Position in Chevron Co. (CVX)

Cubist Systematic Strategies LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 28.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,261 shares of the oil and gas company’s stock after acquiring an additional 9,614 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Chevron were worth $5,469,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Live Your Vision LLC increased its position in Chevron by 308.0% in the second quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock worth $101,000 after buying an additional 616 shares in the last quarter. Point72 Asia Hong Kong Ltd boosted its stake in shares of Chevron by 20,716.7% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock worth $142,000 after acquiring an additional 1,243 shares during the period. Shine Investment Advisory Services Inc. boosted its stake in shares of Chevron by 45.4% in the second quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock worth $187,000 after acquiring an additional 462 shares during the period. BigSur Wealth Management LLC bought a new position in shares of Chevron in the second quarter worth about $200,000. Finally, First National Bank of Hutchinson bought a new position in shares of Chevron in the second quarter worth about $200,000. Institutional investors own 64.89% of the company’s stock.

In related news, insider James William Johnson sold 4,750 shares of the stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $116.00, for a total transaction of $551,000.00. Following the completion of the transaction, the insider now directly owns 4,750 shares of the company’s stock, valued at $551,000. The sale was disclosed in a filing with the SEC, which is available through this link. 0.38% of the stock is currently owned by corporate insiders.

A number of equities analysts have recently weighed in on the company. Redburn Partners lowered Chevron from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $130.00 to $115.00 in a research note on Wednesday, October 3rd. Goldman Sachs Group raised Chevron from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, October 2nd. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $137.00 price objective for the company in a research note on Monday, October 1st. Royal Bank of Canada set a $150.00 price objective on Chevron and gave the stock a “hold” rating in a research note on Thursday, September 20th. Finally, Wells Fargo & Co dropped their price objective on Chevron from $160.00 to $158.00 and set an “outperform” rating for the company in a research note on Monday, November 5th. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Chevron has a consensus rating of “Buy” and an average price target of $138.13.

Shares of Chevron stock opened at $118.94 on Monday. Chevron Co. has a 12 month low of $107.54 and a 12 month high of $133.88. The company has a market cap of $227.27 billion, a P/E ratio of 32.15, a PEG ratio of 2.08 and a beta of 1.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.22 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 2nd. The oil and gas company reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.05. Chevron had a return on equity of 8.19% and a net margin of 8.79%. The company had revenue of $43.99 billion during the quarter, compared to analyst estimates of $47.17 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The firm’s revenue was up 21.5% on a year-over-year basis. Research analysts predict that Chevron Co. will post 8.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Thursday, November 15th. Chevron’s payout ratio is presently 121.08%.

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About Chevron

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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