Chevron Co. (CVX) Stake Lessened by National Asset Management Inc.

National Asset Management Inc. trimmed its position in Chevron Co. (NYSE:CVX) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,897 shares of the oil and gas company’s stock after selling 501 shares during the quarter. National Asset Management Inc.’s holdings in Chevron were worth $3,751,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CVX. Shine Investment Advisory Services Inc. purchased a new stake in Chevron in the second quarter valued at approximately $106,000. Acrospire Investment Management LLC raised its stake in Chevron by 133.3% in the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 800 shares in the last quarter. Accurate Investment Solutions Inc. raised its stake in Chevron by 59.1% in the third quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after purchasing an additional 502 shares in the last quarter. Ffcm LLC raised its stake in Chevron by 121.1% in the second quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock valued at $160,000 after purchasing an additional 822 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in Chevron in the second quarter valued at approximately $160,000. 64.10% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Co. (NYSE:CVX) opened at $112.14 on Tuesday. Chevron Co. has a 52-week low of $102.55 and a 52-week high of $133.88. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. The company has a market cap of $212,995.78, a P/E ratio of 27.49, a price-to-earnings-growth ratio of 2.20 and a beta of 1.15.

Chevron (NYSE:CVX) last issued 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). Chevron had a net margin of 6.49% and a return on equity of 5.23%. The business had revenue of $37.62 billion for the quarter, compared to the consensus estimate of $38.43 billion. During the same quarter in the previous year, the business earned $0.22 earnings per share. The firm’s revenue was up 19.4% on a year-over-year basis. equities research analysts predict that Chevron Co. will post 6.36 EPS for the current fiscal year.

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

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

CVX has been the topic of a number of recent analyst reports. Citigroup raised their target price on shares of Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, October 30th. Morgan Stanley raised their target price on shares of Chevron from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Zacks Investment Research downgraded shares of Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. BMO Capital Markets raised shares of Chevron from a “market perform” rating to an “outperform” rating and raised their target price for the company from $120.00 to $140.00 in a research note on Thursday, January 11th. Finally, Vetr raised shares of Chevron from a “hold” rating to a “buy” rating and set a $134.35 target price on the stock in a research note on Tuesday, December 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $130.30.

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Chevron Company 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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