Davidson Investment Advisors Boosts Position in Chevron Co. (CVX)

Davidson Investment Advisors raised its stake in Chevron Co. (NYSE:CVX) by 28.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 269,958 shares of the oil and gas company’s stock after acquiring an additional 59,898 shares during the period. Chevron makes up 3.4% of Davidson Investment Advisors’ portfolio, making the stock its 5th biggest position. Davidson Investment Advisors’ holdings in Chevron were worth $31,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Chevron by 2.9% during the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after buying an additional 3,920,240 shares during the last quarter. BlackRock Inc. boosted its position in Chevron by 1.6% in the second quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock worth $13,007,759,000 after purchasing an additional 1,975,865 shares during the last quarter. Capital World Investors boosted its position in Chevron by 9.8% in the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after purchasing an additional 3,182,250 shares during the last quarter. Northern Trust Corp boosted its position in Chevron by 0.6% in the second quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock worth $2,728,558,000 after purchasing an additional 157,021 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Chevron by 0.3% in the second quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock worth $1,628,554,000 after purchasing an additional 49,083 shares during the last quarter. 63.72% of the stock is currently owned by hedge funds and other institutional investors.

CVX has been the topic of several research reports. TheStreet raised Chevron from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research report on Friday, November 10th. Citigroup raised their price objective on Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Jefferies Group reaffirmed a “buy” rating and issued a $137.00 price objective (up previously from $113.54) on shares of Chevron in a research note on Monday, October 30th. Finally, Bank of America set a $125.00 price objective on Chevron and gave the stock a “buy” rating in a research note on Saturday, December 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $130.30.

Shares of Chevron Co. (NYSE:CVX) traded down $0.76 on Wednesday, reaching $112.53. The company had a trading volume of 1,318,833 shares, compared to its average volume of 7,523,732. The company has a market cap of $213,340.00, a P/E ratio of 29.76, a PEG ratio of 2.24 and a beta of 1.15. 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 current ratio of 1.04 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period last year, the business posted $0.22 EPS. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. equities research analysts predict that Chevron Co. will post 6.36 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be paid a $1.12 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $4.48 dividend on an annualized basis and a yield of 3.98%. Chevron’s payout ratio is presently 114.29%.

In other Chevron news, CFO Patricia E. Yarrington sold 116,857 shares of Chevron stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $115.29, for a total value of $13,472,443.53. Following the sale, the chief financial officer now owns 39,506 shares of the company’s stock, valued at approximately $4,554,646.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Pierre R. Breber sold 23,250 shares of Chevron stock in a transaction that occurred on Thursday, November 30th. The stock was 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 in the company, valued at approximately $5,019,658. The disclosure for this sale can be found here. In the last ninety days, insiders sold 264,021 shares of company stock worth $30,619,037. Corporate insiders own 0.38% of the company’s stock.

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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.

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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