Olstein Capital Management L.P. Takes Position in Chevron Co. (CVX)

Olstein Capital Management L.P. acquired a new position in shares of Chevron Co. (NYSE:CVX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,000 shares of the oil and gas company’s stock, valued at approximately $1,998,000.

A number of other institutional investors also recently added to or reduced their stakes in CVX. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in shares of Chevron by 1.3% in the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 50,147 shares of the oil and gas company’s stock valued at $5,232,000 after buying an additional 661 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Chevron by 515.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 310,484 shares of the oil and gas company’s stock valued at $32,393,000 after buying an additional 260,030 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of Chevron by 4.1% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 28,128 shares of the oil and gas company’s stock valued at $2,935,000 after buying an additional 1,100 shares in the last quarter. LVM Capital Management Ltd. MI increased its stake in shares of Chevron by 2.1% in the second quarter. LVM Capital Management Ltd. MI now owns 28,510 shares of the oil and gas company’s stock valued at $2,974,000 after buying an additional 590 shares in the last quarter. Finally, Boyd Watterson Asset Management LLC OH increased its stake in shares of Chevron by 5.1% in the second quarter. Boyd Watterson Asset Management LLC OH now owns 8,770 shares of the oil and gas company’s stock valued at $915,000 after buying an additional 428 shares in the last quarter. Hedge funds and other institutional investors own 63.72% of the company’s stock.

In other news, CFO Patricia E. Yarrington sold 13,143 shares of Chevron stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the transaction, the chief financial officer now owns 17,981 shares in the company, valued at approximately $2,067,994.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pierre R. Breber sold 23,250 shares of Chevron 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 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. Insiders have sold a total of 264,021 shares of company stock worth $30,619,037 in the last quarter. 0.38% of the stock is currently owned by company insiders.

Shares of Chevron Co. (NYSE:CVX) traded up $0.65 on Wednesday, reaching $113.94. The company’s stock had a trading volume of 4,454,927 shares, compared to its average volume of 7,654,529. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. Chevron Co. has a 12-month low of $102.55 and a 12-month high of $133.88. The company has a market capitalization of $215,920.00, a PE ratio of 29.98, a P/E/G ratio of 2.24 and a beta of 1.15.

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 Zacks’ consensus estimate of $1.27 by ($0.54). Chevron had a return on equity of 5.23% and a net margin of 6.49%. The company had revenue of $37.62 billion for the quarter, compared to the consensus estimate of $38.43 billion. During the same quarter last year, the business posted $0.22 EPS. Chevron’s quarterly revenue was up 19.4% on a year-over-year basis. equities analysts expect that Chevron Co. will post 6.36 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.08. Chevron’s payout ratio is 114.29%.

A number of analysts have recently weighed in on the company. Vetr lowered Chevron from a “buy” rating to a “hold” rating and set a $134.35 target price for the company. in a research note on Thursday, January 11th. Credit Suisse Group started coverage on Chevron in a report on Monday, December 11th. They issued a “neutral” rating and a $123.00 price target on the stock. TheStreet upgraded Chevron from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Wells Fargo & Co reiterated a “market perform” rating on shares of Chevron in a report on Thursday, October 19th. They noted that the move was a valuation call. Finally, Citigroup raised their price target on Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average 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.

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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