Weatherly Asset Management L. P. Decreases Stock Position in Chevron Co. (NYSE:CVX)

Weatherly Asset Management L. P. lessened its stake in shares of Chevron Co. (NYSE:CVXGet Rating) by 1.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 26,356 shares of the oil and gas company’s stock after selling 272 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Chevron were worth $4,292,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVX. Qube Research & Technologies Ltd raised its holdings in Chevron by 123.3% during the 4th quarter. Qube Research & Technologies Ltd now owns 135,720 shares of the oil and gas company’s stock valued at $15,927,000 after buying an additional 74,933 shares during the period. AGF Investments LLC increased its stake in Chevron by 58.9% in the fourth quarter. AGF Investments LLC now owns 2,957 shares of the oil and gas company’s stock worth $347,000 after purchasing an additional 1,096 shares during the period. Pinnacle Associates Ltd. increased its stake in Chevron by 11.0% in the fourth quarter. Pinnacle Associates Ltd. now owns 130,640 shares of the oil and gas company’s stock worth $15,331,000 after purchasing an additional 12,923 shares during the period. Valmark Advisers Inc. increased its stake in Chevron by 22.5% in the fourth quarter. Valmark Advisers Inc. now owns 9,195 shares of the oil and gas company’s stock worth $1,079,000 after purchasing an additional 1,689 shares during the period. Finally, TrueWealth Advisors LLC increased its stake in Chevron by 7.4% in the fourth quarter. TrueWealth Advisors LLC now owns 7,597 shares of the oil and gas company’s stock worth $892,000 after purchasing an additional 526 shares during the period. Hedge funds and other institutional investors own 65.89% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, insider David A. Inchausti sold 5,600 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $164.85, for a total value of $923,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Chevron news, insider David A. Inchausti sold 5,600 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $164.85, for a total value of $923,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Enrique Hernandez, Jr. sold 39,773 shares of the firm’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $173.99, for a total value of $6,920,104.27. Following the completion of the transaction, the director now owns 22,978 shares of the company’s stock, valued at $3,997,942.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 399,043 shares of company stock valued at $67,010,843. 0.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CVX. Barclays increased their target price on Chevron from $183.00 to $196.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 31st. Societe Generale upgraded Chevron from a “hold” rating to a “buy” rating in a research note on Thursday. Morgan Stanley increased their target price on Chevron from $185.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 19th. Raymond James increased their target price on Chevron from $173.00 to $191.00 and gave the stock an “outperform” rating in a research note on Monday, April 18th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $172.00 price target on shares of Chevron in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.00.

Chevron Price Performance

Shares of CVX stock opened at $153.64 on Friday. Chevron Co. has a 1-year low of $92.86 and a 1-year high of $182.40. The stock’s 50-day moving average is $154.37 and its 200 day moving average is $155.35. The company has a market cap of $301.87 billion, a P/E ratio of 10.25, a PEG ratio of 0.61 and a beta of 1.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22.

Chevron (NYSE:CVXGet Rating) last issued its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, topping the consensus estimate of $4.66 by $1.16. The business had revenue of $68.76 billion during the quarter, compared to the consensus estimate of $57.69 billion. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The company’s quarterly revenue was up 82.9% on a year-over-year basis. During the same quarter last year, the company earned $1.71 earnings per share. Research analysts predict that Chevron Co. will post 17.51 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 19th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Thursday, August 18th. Chevron’s dividend payout ratio is presently 37.89%.

Chevron Company Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation 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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