Vivaldi Capital Management LLC Raises Stock Holdings in Chevron Co. (NYSE:CVX)

Share on StockTwits

Vivaldi Capital Management LLC boosted its stake in Chevron Co. (NYSE:CVX) by 172.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,482 shares of the oil and gas company’s stock after buying an additional 5,366 shares during the period. Vivaldi Capital Management LLC’s holdings in Chevron were worth $1,056,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Guidant Wealth Advisors raised its holdings in Chevron by 63.9% in the 2nd quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 101 shares during the period. Evolution Wealth Advisors LLC acquired a new position in Chevron in the 2nd quarter valued at about $34,000. Cordasco Financial Network grew its position in Chevron by 55.3% in the 2nd quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock valued at $47,000 after acquiring an additional 135 shares in the last quarter. CKW Financial Group grew its position in Chevron by 154.0% in the 2nd quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 251 shares in the last quarter. Finally, Next Capital Management LLC acquired a new position in Chevron in the 2nd quarter valued at about $52,000. Hedge funds and other institutional investors own 65.61% of the company’s stock.

Shares of Chevron stock traded up $0.61 on Friday, reaching $124.27. 327,078 shares of the company were exchanged, compared to its average volume of 5,330,008. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $127.60. The company has a market cap of $235.20 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 3.11 and a beta of 1.01. 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 stock’s 50 day moving average price is $119.22 and its 200-day moving average price is $121.38.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, topping the Zacks’ 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 during the quarter, compared to the consensus estimate of $40.14 billion. During the same period in the previous year, the company posted $1.78 earnings per share. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, research analysts predict that Chevron Co. will post 6.64 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Friday, August 16th. Chevron’s dividend payout ratio is presently 57.70%.

Several research firms have weighed in on CVX. Morgan Stanley dropped their target price on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. ValuEngine downgraded Chevron from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. Barclays began coverage on Chevron in a research report on Monday, August 19th. They issued an “overweight” rating and a $145.00 target price for the company. Cowen set a $140.00 target price on Chevron and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, BMO Capital Markets began coverage on Chevron in a research report on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $136.22.

In related news, CFO Pierre R. Breber sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $124.97, for a total value of $1,874,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael K. Wirth sold 33,750 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $125.00, for a total value of $4,218,750.00. Following the completion of the transaction, the chief executive officer now directly owns 33,750 shares of the company’s stock, valued at $4,218,750. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,750 shares of company stock valued at $10,648,200. Corporate insiders own 0.31% of the company’s stock.

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.

Read More: Cash Flow Analysis in Stock Selection

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.