Westchester Capital Management Inc. Continues to Hold Stake in Chevron Co. (NYSE:CVX)

Westchester Capital Management Inc. maintained its stake in Chevron Co. (NYSE:CVX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,031 shares of the oil and gas company’s stock at the close of the first quarter. Chevron accounts for 0.1% of Westchester Capital Management Inc.’s holdings, making the stock its 29th largest holding. Westchester Capital Management Inc.’s holdings in Chevron were worth $111,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CVX. Orgel Wealth Management LLC lifted its stake in shares of Chevron by 0.8% during the 1st quarter. Orgel Wealth Management LLC now owns 2,346 shares of the oil and gas company’s stock worth $252,000 after acquiring an additional 18 shares during the last quarter. Westbourne Investment Advisors Inc. lifted its stake in shares of Chevron by 0.4% during the 1st quarter. Westbourne Investment Advisors Inc. now owns 7,435 shares of the oil and gas company’s stock worth $798,000 after acquiring an additional 33 shares during the last quarter. Court Place Advisors LLC lifted its stake in shares of Chevron by 0.6% during the 1st quarter. Court Place Advisors LLC now owns 5,968 shares of the oil and gas company’s stock worth $641,000 after acquiring an additional 36 shares during the last quarter. Evanson Asset Management LLC lifted its stake in shares of Chevron by 0.5% during the 1st quarter. Evanson Asset Management LLC now owns 9,521 shares of the oil and gas company’s stock worth $1,022,000 after acquiring an additional 44 shares during the last quarter. Finally, Roanoke Asset Management Corp NY lifted its stake in shares of Chevron by 1.2% during the 1st quarter. Roanoke Asset Management Corp NY now owns 4,206 shares of the oil and gas company’s stock worth $452,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 62.84% of the company’s stock.

In related news, CFO Patricia E. Yarrington sold 39,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the transaction, the chief financial officer now owns 43,838 shares of the company’s stock, valued at $4,866,018. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Linnet F. Deily sold 2,312 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total value of $248,262.56. The disclosure for this sale can be found here. Insiders have sold 72,312 shares of company stock worth $8,008,343 in the last quarter. Insiders own 0.38% of the company’s stock.

A number of equities research analysts recently issued reports on the company. Credit Suisse Group set a $123.00 price target on Chevron and gave the stock a “buy” rating in a research note on Friday, August 25th. Citigroup Inc. decreased their price target on Chevron from $129.00 to $118.00 and set a “buy” rating for the company in a research note on Friday, July 21st. BMO Capital Markets set a $120.00 price target on Chevron and gave the stock a “buy” rating in a research note on Sunday, July 30th. Exane BNP Paribas lowered Chevron from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $105.00 to $100.00 in a research note on Friday, May 26th. Finally, BidaskClub raised Chevron from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $116.40.

Chevron Co. (CVX) traded up 0.16% during mid-day trading on Friday, reaching $114.63. The company’s stock had a trading volume of 8,387,623 shares. Chevron Co. has a one year low of $97.68 and a one year high of $119.00. The stock’s 50 day moving average is $109.46 and its 200 day moving average is $107.20. The firm has a market cap of $217.22 billion, a PE ratio of 37.17 and a beta of 1.23.

Chevron (NYSE:CVX) last posted its earnings results on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. Chevron had a return on equity of 3.97% and a net margin of 4.47%. The business had revenue of $34.48 billion for the quarter, compared to analysts’ expectations of $32.77 billion. During the same quarter in the previous year, the firm earned ($0.78) earnings per share. The business’s revenue was up 17.8% compared to the same quarter last year. On average, analysts anticipate that Chevron Co. will post $3.86 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 18th were given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Wednesday, August 16th. Chevron’s dividend payout ratio (DPR) is currently 140.26%.

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Chevron 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 (NYSE:CVX)

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