Overbrook Management Corp reduced its stake in shares of Chevron Co. (NYSE:CVX) by 9.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,246 shares of the oil and gas company’s stock after selling 643 shares during the period. Overbrook Management Corp’s holdings in Chevron were worth $790,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in CVX. Dimensional Fund Advisors LP grew its stake in shares of Chevron by 4.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,026,526 shares of the oil and gas company’s stock worth $1,485,545,000 after acquiring an additional 549,931 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Chevron by 3.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 8,728,794 shares of the oil and gas company’s stock valued at $995,432,000 after buying an additional 275,289 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Chevron by 0.4% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,624,550 shares of the oil and gas company’s stock valued at $869,505,000 after buying an additional 31,022 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Chevron by 10.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,391,206 shares of the oil and gas company’s stock valued at $808,040,000 after buying an additional 594,253 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of Chevron by 12.7% in the second quarter. LSV Asset Management now owns 5,587,473 shares of the oil and gas company’s stock valued at $706,424,000 after buying an additional 630,880 shares in the last quarter. Hedge funds and other institutional investors own 64.66% of the company’s stock.
Several equities analysts recently weighed in on CVX shares. Barclays raised their target price on shares of Chevron from $145.00 to $148.00 and gave the company an “overweight” rating in a research note on Wednesday, July 11th. Zacks Investment Research cut shares of Chevron from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Goldman Sachs Group reissued a “buy” rating and issued a $141.00 target price on shares of Chevron in a research note on Tuesday, July 31st. ValuEngine cut shares of Chevron from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Bank of America cut shares of Chevron from a “buy” rating to a “neutral” rating and decreased their target price for the company from $150.00 to $135.00 in a research note on Thursday, September 6th. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $137.65.
In related news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction dated Thursday, October 11th. The stock was sold at an average price of $119.97, for a total value of $569,857.50. Following the completion of the transaction, the insider now owns 4,750 shares of the company’s stock, valued at $569,857.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.
CVX stock opened at $114.73 on Monday. The stock has a market capitalization of $219.84 billion, a P/E ratio of 31.01, a P/E/G ratio of 2.01 and a beta of 1.12. Chevron Co. has a 52 week low of $107.54 and a 52 week high of $133.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 0.87.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 2nd. The oil and gas company reported $2.11 EPS for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.05. The business had revenue of $43.99 billion during the quarter, compared to the consensus estimate of $47.17 billion. Chevron had a return on equity of 8.24% and a net margin of 8.79%. Chevron’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 8.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Thursday, November 15th. Chevron’s dividend payout ratio (DPR) is presently 121.08%.
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: Initial Public Offering (IPO)
Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX).
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.