Selway Asset Management boosted its holdings in Chevron Co. (NYSE:CVX) by 69.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,865 shares of the oil and gas company’s stock after purchasing an additional 8,525 shares during the period. Chevron comprises 1.7% of Selway Asset Management’s portfolio, making the stock its 21st largest position. Selway Asset Management’s holdings in Chevron were worth $2,596,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of CVX. BKD Wealth Advisors LLC increased its stake in shares of Chevron by 2.5% in the 4th quarter. BKD Wealth Advisors LLC now owns 31,824 shares of the oil and gas company’s stock worth $3,462,000 after acquiring an additional 763 shares during the last quarter. Dfpg Investments Inc. acquired a new stake in shares of Chevron in the 4th quarter worth $594,000. Miracle Mile Advisors LLC increased its stake in shares of Chevron by 133.0% in the 4th quarter. Miracle Mile Advisors LLC now owns 5,264 shares of the oil and gas company’s stock worth $573,000 after acquiring an additional 3,005 shares during the last quarter. Pioneer Trust Bank N A OR increased its stake in shares of Chevron by 9.0% in the 4th quarter. Pioneer Trust Bank N A OR now owns 52,372 shares of the oil and gas company’s stock worth $5,698,000 after acquiring an additional 4,305 shares during the last quarter. Finally, Monarch Capital Management Inc. increased its stake in shares of Chevron by 3.1% in the 4th quarter. Monarch Capital Management Inc. now owns 16,713 shares of the oil and gas company’s stock worth $1,818,000 after acquiring an additional 505 shares during the last quarter. 66.45% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Joseph C. Geagea sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $122.97, for a total value of $1,229,700.00. Following the completion of the sale, the executive vice president now owns 11,243 shares of the company’s stock, valued at $1,382,551.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Michael K. Wirth sold 33,750 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $125.60, for a total value of $4,239,000.00. Following the completion of the sale, the chairman now directly owns 33,750 shares of the company’s stock, valued at approximately $4,239,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,750 shares of company stock worth $6,448,700. 0.31% of the stock is currently owned by company insiders.Shares of NYSE:CVX traded down $0.19 during trading on Friday, reaching $117.33. The company had a trading volume of 979,872 shares, compared to its average volume of 6,306,533. The stock’s fifty day moving average price is $121.21 and its 200 day moving average price is $121.32. 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 market capitalization of $223.10 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 2.83 and a beta of 1.00. Chevron Co. has a fifty-two week low of $100.22 and a fifty-two week high of $127.60.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.53. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The business had revenue of $38.85 billion for the quarter, compared to the consensus estimate of $40.14 billion. During the same period in the prior year, the business earned $1.78 earnings per share. The business’s revenue was down 8.0% on a year-over-year basis. On average, equities analysts anticipate that Chevron Co. will post 6.82 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Friday, August 16th. Chevron’s dividend payout ratio is presently 57.70%.
CVX has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Chevron from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. BMO Capital Markets initiated coverage on Chevron in a research report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 price objective for the company. Barclays initiated coverage on Chevron in a research report on Monday, August 19th. They set an “overweight” rating and a $145.00 price objective for the company. Morgan Stanley cut their price objective on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Finally, Citigroup initiated coverage on Chevron in a research report on Monday, May 13th. They set a “buy” rating and a $135.00 price objective for the company. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $136.26.
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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