Chevron Co. (CVX) Position Reduced by Old West Investment Management LLC

Old West Investment Management LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 30.9% during the 3rd quarter, Holdings Channel reports. The firm owned 23,140 shares of the oil and gas company’s stock after selling 10,345 shares during the period. Chevron makes up about 1.4% of Old West Investment Management LLC’s holdings, making the stock its 24th biggest holding. Old West Investment Management LLC’s holdings in Chevron were worth $2,718,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Valley National Advisers Inc. boosted its holdings in shares of Chevron by 0.4% during the 2nd quarter. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company’s stock valued at $273,000 after acquiring an additional 11 shares during the last quarter. Deschutes Portfolio Strategy LLC boosted its holdings in shares of Chevron by 0.5% during the 2nd quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock valued at $301,000 after acquiring an additional 13 shares during the last quarter. Regis Management CO LLC boosted its holdings in shares of Chevron by 0.4% during the 2nd quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock valued at $341,000 after acquiring an additional 14 shares during the last quarter. Keel Point LLC boosted its holdings in shares of Chevron by 0.5% during the 2nd quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock valued at $288,000 after acquiring an additional 14 shares during the last quarter. Finally, FCG Advisors LLC boosted its holdings in shares of Chevron by 0.4% during the 2nd quarter. FCG Advisors LLC now owns 3,907 shares of the oil and gas company’s stock valued at $408,000 after acquiring an additional 15 shares during the last quarter. 64.10% of the stock is currently owned by institutional investors.

In other Chevron news, insider Pierre R. Breber sold 23,250 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the sale, the insider now owns 42,182 shares in the company, valued at approximately $5,019,658. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.

A number of analysts have recently issued reports on CVX shares. Jefferies Group reaffirmed a “buy” rating and set a $140.00 price target on shares of Chevron in a report on Wednesday, December 20th. Bank of America set a $125.00 price target on shares of Chevron and gave the company a “buy” rating in a report on Saturday, December 2nd. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $127.00 price target on the stock in a report on Tuesday, October 31st. Citigroup raised their price target on shares of Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a report on Monday, October 30th. Finally, Scotiabank reaffirmed a “buy” rating and set a $130.00 price target on shares of Chevron in a report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $130.30.

Shares of Chevron Co. (NYSE CVX) opened at $109.89 on Friday. Chevron Co. has a one year low of $102.55 and a one year high of $133.88. The company has a market cap of $207,145.72, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.

Chevron (NYSE:CVX) last released its 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 return on equity of 5.23% and a net margin of 6.49%. The firm 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 posted $0.22 EPS. Chevron’s revenue was up 19.4% on a year-over-year basis. equities analysts forecast that Chevron Co. will post 6.36 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be paid a dividend of $1.12 per share. This is a boost 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 4.08%. Chevron’s dividend payout ratio (DPR) is presently 92.37%.

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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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