Alps Advisors Inc. Boosts Holdings in Chevron Co. (NYSE:CVX)

Alps Advisors Inc. boosted its position in shares of Chevron Co. (NYSE:CVX) by 108.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,855 shares of the oil and gas company’s stock after acquiring an additional 16,548 shares during the period. Alps Advisors Inc.’s holdings in Chevron were worth $3,778,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of CVX. Vanguard Group Inc. raised its holdings in shares of Chevron by 1.0% in the second quarter. Vanguard Group Inc. now owns 157,513,617 shares of the oil and gas company’s stock worth $19,600,995,000 after buying an additional 1,572,940 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Chevron by 3.5% in the second quarter. BlackRock Inc. now owns 131,522,440 shares of the oil and gas company’s stock worth $16,366,651,000 after buying an additional 4,401,622 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Chevron by 2.8% in the second quarter. Northern Trust Corp now owns 28,068,068 shares of the oil and gas company’s stock worth $3,492,791,000 after buying an additional 769,941 shares during the last quarter. Morgan Stanley raised its holdings in shares of Chevron by 7.9% in the second quarter. Morgan Stanley now owns 16,262,708 shares of the oil and gas company’s stock worth $2,023,732,000 after buying an additional 1,184,133 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Chevron by 2,073.6% in the second quarter. Nuveen Asset Management LLC now owns 14,886,232 shares of the oil and gas company’s stock worth $1,852,443,000 after buying an additional 14,201,379 shares during the last quarter. 65.68% of the stock is owned by institutional investors.

Shares of Chevron stock opened at $120.93 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.15 and a quick ratio of 0.91. The firm has a fifty day moving average price of $117.65 and a 200 day moving average price of $119.96. Chevron Co. has a 1 year low of $100.22 and a 1 year high of $127.34. The stock has a market cap of $231.49 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 3.25 and a beta of 0.99.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $1.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.47 by ($0.11). Chevron had a return on equity of 8.89% and a net margin of 8.70%. The business had revenue of $36.12 billion for the quarter, compared to analysts’ expectations of $37.69 billion. During the same period last year, the business earned $2.11 EPS. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. As a group, equities analysts expect that Chevron Co. will post 6.25 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.19 per share. The ex-dividend date is Friday, November 15th. This represents a $4.76 annualized dividend and a dividend yield of 3.94%. Chevron’s dividend payout ratio (DPR) is presently 57.70%.

In related news, EVP Joseph C. Geagea sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $116.98, for a total transaction of $1,754,700.00. Following the completion of the transaction, the executive vice president now owns 6,243 shares of the company’s stock, valued at $730,306.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Joseph C. Geagea sold 5,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $118.10, for a total transaction of $590,500.00. Following the transaction, the executive vice president now directly owns 6,243 shares of the company’s stock, valued at approximately $737,298.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,750 shares of company stock valued at $11,216,850. 0.31% of the stock is currently owned by corporate insiders.

A number of research analysts have issued reports on CVX shares. JPMorgan Chase & Co. decreased their price target on shares of Chevron from $142.00 to $139.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Independent Research set a $127.00 price target on shares of Chevron and gave the stock a “neutral” rating in a report on Thursday, August 29th. Barclays started coverage on shares of Chevron in a report on Monday, August 19th. They issued an “overweight” rating and a $145.00 price target for the company. BMO Capital Markets started coverage on shares of Chevron in a report on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 price target for the company. Finally, Cowen decreased their price target on shares of Chevron from $140.00 to $134.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $135.88.

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.

Further Reading: What is a Leveraged Buyout (LBO)?

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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