Charles Schwab Investment Advisory Inc. Invests $413.62 Million in Chevron Co. (CVX) Stock

Charles Schwab Investment Advisory Inc. purchased a new stake in shares of Chevron Co. (NYSE:CVX) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 3,271,548 shares of the oil and gas company’s stock, valued at approximately $413,622,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Cornerstone Wealth Management LLC lifted its position in Chevron by 12,404.4% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,938,051 shares of the oil and gas company’s stock valued at $15,598,000 after acquiring an additional 1,922,552 shares during the period. Summit Trail Advisors LLC lifted its position in Chevron by 9,968.8% during the 1st quarter. Summit Trail Advisors LLC now owns 1,145,531 shares of the oil and gas company’s stock valued at $1,146,000 after acquiring an additional 1,134,154 shares during the period. State of New Jersey Common Pension Fund D raised its holdings in Chevron by 87.0% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,633,900 shares of the oil and gas company’s stock worth $186,330,000 after buying an additional 760,000 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in Chevron by 74.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,567,260 shares of the oil and gas company’s stock worth $198,149,000 after buying an additional 667,960 shares during the last quarter. Finally, Ceredex Value Advisors LLC purchased a new position in Chevron in the first quarter worth about $74,364,000. 64.72% of the stock is owned by institutional investors.

CVX opened at $115.35 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.22 and a quick ratio of 1.01. Chevron Co. has a twelve month low of $107.54 and a twelve month high of $133.88. The company has a market cap of $228.36 billion, a PE ratio of 31.18, a P/E/G ratio of 2.05 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.05. Chevron had a net margin of 8.79% and a return on equity of 8.19%. The firm had revenue of $43.99 billion during the quarter, compared to analysts’ expectations of $47.17 billion. During the same period in the previous year, the company earned $1.03 earnings per share. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. As a group, research analysts predict that Chevron Co. will post 8.31 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $4.48 annualized dividend and a dividend yield of 3.88%. Chevron’s payout ratio is 121.08%.

In other news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction that occurred on Thursday, October 11th. The shares were sold at an average price of $119.97, for a total transaction of $569,857.50. Following the completion of the transaction, the insider now directly owns 4,750 shares of the company’s stock, valued at $569,857.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.

CVX has been the subject of several recent analyst reports. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating in a report on Tuesday, September 11th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $141.00 target price on shares of Chevron in a report on Tuesday, July 31st. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a report on Monday, October 1st. ValuEngine cut shares of Chevron from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Royal Bank of Canada set a $150.00 target price on shares of Chevron and gave the stock a “hold” rating in a report on Thursday, September 20th. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $138.13.

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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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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