Eliot Finkel Investment Counsel LLC Cuts Position in Chevron Corporation (NYSE:CVX)

Eliot Finkel Investment Counsel LLC lowered its stake in Chevron Corporation (NYSE:CVX) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,590 shares of the oil and gas company’s stock after selling 230 shares during the period. Chevron Corporation accounts for 2.4% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 24th biggest position. Eliot Finkel Investment Counsel LLC’s holdings in Chevron Corporation were worth $3,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Thompson Davis & CO. Inc. raised its holdings in shares of Chevron Corporation by 20.0% during the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 191 shares during the last quarter. Americafirst Capital Management LLC purchased a new position in shares of Chevron Corporation during the first quarter worth $140,000. Merriman Wealth Management LLC purchased a new position in shares of Chevron Corporation during the first quarter worth $224,000. Harwood Advisory Group LLC raised its holdings in shares of Chevron Corporation by 22.0% during the first quarter. Harwood Advisory Group LLC now owns 2,137 shares of the oil and gas company’s stock worth $229,000 after purchasing an additional 386 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Chevron Corporation during the first quarter worth $230,000. 62.74% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently issued reports on CVX shares. UBS AG set a $105.00 target price on shares of Chevron Corporation and gave the stock a “neutral” rating in a report on Wednesday, September 6th. Zacks Investment Research cut shares of Chevron Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Credit Suisse Group set a $123.00 target price on shares of Chevron Corporation and gave the stock a “buy” rating in a report on Friday, August 25th. Jefferies Group LLC set a $130.00 price target on shares of Chevron Corporation and gave the company a “buy” rating in a research report on Tuesday, August 29th. Finally, BidaskClub lowered shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Chevron Corporation presently has a consensus rating of “Buy” and a consensus target price of $116.88.

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Chevron Corporation (NYSE CVX) opened at 117.29 on Friday. The stock has a 50 day moving average of $109.87 and a 200 day moving average of $107.14. Chevron Corporation has a 1-year low of $97.79 and a 1-year high of $119.00. The stock has a market capitalization of $222.26 billion, a P/E ratio of 38.03 and a beta of 1.23.

Chevron Corporation (NYSE:CVX) last issued its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.02. The firm had revenue of $34.48 billion for the quarter, compared to analysts’ expectations of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The firm’s revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.78) EPS. On average, analysts expect that Chevron Corporation will post $3.86 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were paid a $1.08 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.68%. Chevron Corporation’s payout ratio is 140.26%.

In related news, Director Linnet F. Deily sold 2,312 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total value of $248,262.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Patricia E. Yarrington sold 39,000 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the sale, the chief financial officer now directly owns 43,838 shares in the company, valued at $4,866,018. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,312 shares of company stock worth $8,008,343. 0.38% of the stock is owned by corporate insiders.

Chevron Corporation Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Institutional Ownership by Quarter for Chevron Corporation (NYSE:CVX)

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