Mizuho Securities USA LLC Boosts Position in Chevron Co. (CVX)

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Mizuho Securities USA LLC boosted its stake in Chevron Co. (NYSE:CVX) by 241.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 30,100 shares of the oil and gas company’s stock after purchasing an additional 21,295 shares during the period. Mizuho Securities USA LLC’s holdings in Chevron were worth $3,806,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Chevron by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 19,836,151 shares of the oil and gas company’s stock valued at $2,478,038,000 after purchasing an additional 655,892 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Chevron by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 13,026,526 shares of the oil and gas company’s stock valued at $1,485,545,000 after purchasing an additional 549,931 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Chevron by 3.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 8,728,794 shares of the oil and gas company’s stock valued at $995,432,000 after purchasing an additional 275,289 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Chevron by 0.4% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,624,550 shares of the oil and gas company’s stock valued at $869,505,000 after purchasing an additional 31,022 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of Chevron by 2.4% in the first quarter. Boston Partners now owns 7,482,304 shares of the oil and gas company’s stock valued at $853,282,000 after purchasing an additional 175,360 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Several brokerages have issued reports on CVX. Redburn Partners downgraded shares of Chevron from a “buy” rating to a “neutral” rating and reduced their price target for the company from $130.00 to $115.00 in a report on Wednesday, October 3rd. Goldman Sachs Group raised shares of Chevron from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, October 2nd. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $137.00 price objective on the stock in a research note on Monday, October 1st. Royal Bank of Canada set a $150.00 price objective on shares of Chevron and gave the company a “hold” rating in a research note on Thursday, September 20th. Finally, HSBC raised shares of Chevron from a “hold” rating to a “buy” rating in a research note on Tuesday, September 11th. Nine equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $136.83.

In other news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $116.00, for a total value of $551,000.00. Following the transaction, the insider now directly owns 4,750 shares in the company, valued at approximately $551,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.46% of the company’s stock.

CVX stock traded down $0.66 during mid-day trading on Friday, hitting $117.77. 7,240,325 shares of the company were exchanged, compared to its average volume of 6,384,054. The firm has a market cap of $234.31 billion, a P/E ratio of 31.83, a P/E/G ratio of 2.14 and a beta of 1.07. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 0.87. Chevron Co. has a twelve month low of $108.02 and a twelve month high of $133.88.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 27th. The oil and gas company reported $1.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.09 by ($0.31). Chevron had a return on equity of 6.89% and a net margin of 7.87%. The company had revenue of $42.24 billion for the quarter, compared to analyst estimates of $46.62 billion. During the same period in the prior year, the business earned $0.77 earnings per share. Chevron’s revenue was up 22.5% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 8.17 EPS for the current year.

Chevron Company 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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