Rockefeller Capital Management L.P. Raises Holdings in Chevron Corporation $CVX

Rockefeller Capital Management L.P. lifted its position in Chevron Corporation (NYSE:CVX) by 13.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,456,172 shares of the oil and gas company’s stock after acquiring an additional 167,792 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Chevron were worth $221,936,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Lane Brothers & Co. Inc. bought a new position in shares of Chevron during the fourth quarter valued at approximately $283,000. Fund Advisors of America Inc FL bought a new position in Chevron in the fourth quarter worth approximately $745,000. World Investment Advisors raised its stake in Chevron by 24.2% in the fourth quarter. World Investment Advisors now owns 85,213 shares of the oil and gas company’s stock worth $12,987,000 after buying an additional 16,596 shares in the last quarter. Farmers National Bank lifted its holdings in Chevron by 3.3% during the fourth quarter. Farmers National Bank now owns 48,065 shares of the oil and gas company’s stock worth $7,326,000 after buying an additional 1,527 shares during the period. Finally, Nalls Sherbakoff Group LLC purchased a new stake in Chevron during the fourth quarter worth $90,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $173.51 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm has a market cap of $345.56 billion, a PE ratio of 30.07, a P/E/G ratio of 0.57 and a beta of 0.48. Chevron Corporation has a 12 month low of $142.40 and a 12 month high of $214.71. The stock has a fifty day moving average price of $186.63 and a 200-day moving average price of $179.01.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same period in the prior year, the company posted $2.18 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts predict that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.1%. Chevron’s payout ratio is presently 123.40%.

Insider Activity at Chevron

In related news, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider directly owned 8,638 shares of the company’s stock, valued at $1,842,485.40. This trade represents a 82.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 615,200 shares of company stock valued at $118,022,760 over the last ninety days. 0.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CVX shares. Barclays lifted their price target on Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a report on Tuesday, May 26th. Morgan Stanley upped their price objective on Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Weiss Ratings downgraded Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Citigroup lifted their target price on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a report on Friday, March 20th. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $205.70.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.