Chevron Co. (CVX) is Brookmont Capital Management’s 3rd Largest Position

Brookmont Capital Management increased its stake in Chevron Co. (NYSE:CVX) by 1.4% during the second quarter, HoldingsChannel reports. The firm owned 41,422 shares of the oil and gas company’s stock after acquiring an additional 584 shares during the period. Chevron accounts for approximately 3.3% of Brookmont Capital Management’s holdings, making the stock its 3rd biggest position. Brookmont Capital Management’s holdings in Chevron were worth $5,237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of CVX. Stellar Capital Management LLC lifted its holdings in shares of Chevron by 1.9% during the 1st quarter. Stellar Capital Management LLC now owns 21,011 shares of the oil and gas company’s stock valued at $2,397,000 after buying an additional 401 shares during the last quarter. South Street Advisors LLC lifted its holdings in shares of Chevron by 5.1% during the 1st quarter. South Street Advisors LLC now owns 8,490 shares of the oil and gas company’s stock valued at $968,000 after buying an additional 410 shares during the last quarter. Chase Investment Counsel Corp lifted its holdings in shares of Chevron by 25.4% during the 1st quarter. Chase Investment Counsel Corp now owns 2,074 shares of the oil and gas company’s stock valued at $236,000 after buying an additional 420 shares during the last quarter. Concentric Wealth Management LLC lifted its holdings in shares of Chevron by 1.9% during the 1st quarter. Concentric Wealth Management LLC now owns 23,656 shares of the oil and gas company’s stock valued at $2,698,000 after buying an additional 432 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. lifted its holdings in shares of Chevron by 0.9% during the 1st quarter. Cornercap Investment Counsel Inc. now owns 49,002 shares of the oil and gas company’s stock valued at $5,588,000 after buying an additional 440 shares during the last quarter. 65.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE CVX opened at $117.38 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.87 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $221.87 billion, a price-to-earnings ratio of 31.72, a price-to-earnings-growth ratio of 2.04 and a beta of 1.06. Chevron Co. has a 12 month low of $108.02 and a 12 month high of $133.88.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, July 27th. The oil and gas company reported $1.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.09 by ($0.31). The business had revenue of $42.24 billion during the quarter, compared to the consensus estimate of $46.62 billion. Chevron had a return on equity of 6.89% and a net margin of 7.87%. The business’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 earnings per share. research analysts forecast that Chevron Co. will post 8.11 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 17th were given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Thursday, August 16th. Chevron’s dividend payout ratio is currently 121.08%.

Several equities research analysts have recently issued reports on CVX shares. Raymond James upgraded Chevron from a “market perform” rating to an “outperform” rating in a report on Monday, June 18th. Zacks Investment Research downgraded Chevron from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Wells Fargo & Co raised their price objective on Chevron from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, June 7th. ValuEngine downgraded Chevron from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $141.00 price objective on shares of Chevron in a research note on Tuesday, July 31st. Nine research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Chevron has an average rating of “Buy” and a consensus price target of $138.17.

In other Chevron news, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction that occurred on Thursday, July 12th. The stock was sold at an average price of $124.20, for a total value of $589,950.00. Following the transaction, the insider now directly owns 4,750 shares of the company’s stock, valued at approximately $589,950. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.38% of the company’s stock.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

See Also: Diversification

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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