Poplar Forest Capital LLC Has $40.29 Million Stake in Chevron Co. (CVX)

Poplar Forest Capital LLC decreased its position in Chevron Co. (NYSE:CVX) by 4.6% during the 3rd quarter, Holdings Channel reports. The firm owned 342,919 shares of the oil and gas company’s stock after selling 16,614 shares during the quarter. Chevron makes up 3.5% of Poplar Forest Capital LLC’s investment portfolio, making the stock its 17th biggest holding. Poplar Forest Capital LLC’s holdings in Chevron were worth $40,293,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVX. Shine Investment Advisory Services Inc. bought a new stake in shares of Chevron in the 2nd quarter worth about $106,000. Acrospire Investment Management LLC lifted its position in Chevron by 133.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after buying an additional 800 shares in the last quarter. Accurate Investment Solutions Inc. lifted its position in Chevron by 59.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after buying an additional 502 shares in the last quarter. Ffcm LLC lifted its position in Chevron by 121.1% during the 2nd quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock worth $160,000 after buying an additional 822 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc acquired a new position in Chevron during the 2nd quarter worth about $160,000. 63.72% of the stock is currently owned by institutional investors and hedge funds.

Shares of Chevron Co. (CVX) opened at $112.14 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. The company has a market capitalization of $212,995.80, a PE ratio of 27.49, a PEG ratio of 2.20 and a beta of 1.15. Chevron Co. has a 52 week low of $102.55 and a 52 week high of $133.88.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). The company had revenue of $37.62 billion during the quarter, compared to the consensus estimate of $38.43 billion. Chevron had a net margin of 6.49% and a return on equity of 5.23%. The business’s revenue was up 19.4% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. sell-side analysts predict that Chevron Co. will post 6.36 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be paid a $1.12 dividend. The ex-dividend date is Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.00%. Chevron’s dividend payout ratio is 92.37%.

Several research analysts recently issued reports on CVX shares. Jefferies Group reiterated a “buy” rating and set a $137.00 price target (up previously from $113.54) on shares of Chevron in a research report on Monday, October 30th. Goldman Sachs Group downgraded shares of Chevron from a “conviction-buy” rating to a “buy” rating in a research report on Monday, February 5th. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $131.00 price target on the stock in a research report on Friday, November 10th. Citigroup upped their price target on shares of Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $130.30.

In other news, EVP Michael K. Wirth sold 110,771 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $116.17, for a total value of $12,868,267.07. Following the completion of the sale, the executive vice president now directly owns 110,771 shares of the company’s stock, valued at approximately $12,868,267.07. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $119.00, for a total value of $2,766,750.00. Following the completion of the sale, the insider now directly owns 42,182 shares of the company’s stock, valued at $5,019,658. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 250,878 shares of company stock valued at $29,107,461. 0.38% of the stock is currently owned by company insiders.

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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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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