Centaurus Financial Inc. Raises Holdings in Chevron Co. (CVX)

Centaurus Financial Inc. raised its position in Chevron Co. (NYSE:CVX) by 128.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 31,759 shares of the oil and gas company’s stock after acquiring an additional 17,836 shares during the period. Centaurus Financial Inc.’s holdings in Chevron were worth $4,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Baldwin Investment Management LLC grew its position in shares of Chevron by 62.8% in the second quarter. Baldwin Investment Management LLC now owns 5,316 shares of the oil and gas company’s stock valued at $672,000 after purchasing an additional 2,050 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in shares of Chevron by 57.4% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 45,500 shares of the oil and gas company’s stock valued at $5,753,000 after purchasing an additional 16,600 shares in the last quarter. CastleArk Alternatives LLC grew its position in shares of Chevron by 30.8% in the second quarter. CastleArk Alternatives LLC now owns 64,050 shares of the oil and gas company’s stock valued at $8,098,000 after purchasing an additional 15,100 shares in the last quarter. Resources Investment Advisors Inc. grew its position in shares of Chevron by 9.7% in the second quarter. Resources Investment Advisors Inc. now owns 7,037 shares of the oil and gas company’s stock valued at $889,000 after purchasing an additional 622 shares in the last quarter. Finally, AE Wealth Management LLC grew its position in shares of Chevron by 12.1% in the second quarter. AE Wealth Management LLC now owns 80,114 shares of the oil and gas company’s stock valued at $10,129,000 after purchasing an additional 8,657 shares in the last quarter. Hedge funds and other institutional investors own 64.67% of the company’s stock.

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 transaction of $569,857.50. Following the completion of the transaction, the insider now directly owns 4,750 shares in the company, valued at $569,857.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have sold 19,000 shares of company stock valued at $2,247,463. 0.46% of the stock is owned by company insiders.

Chevron stock opened at $117.24 on Thursday. 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 0.19, a current ratio of 1.22 and a quick ratio of 1.01. The stock has a market cap of $227.27 billion, a P/E ratio of 31.69, a price-to-earnings-growth ratio of 2.11 and a beta of 1.13.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 2nd. The oil and gas company reported $2.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.05. Chevron had a return on equity of 8.19% and a net margin of 8.79%. The business 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 business earned $1.03 earnings per share. The firm’s revenue was up 21.5% on a year-over-year basis. As a group, equities research analysts predict that Chevron Co. will post 8.18 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Thursday, November 15th. Chevron’s payout ratio is 121.08%.

CVX has been the subject of several recent research reports. HSBC upgraded Chevron from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. Piper Jaffray Companies reiterated an “overweight” rating on shares of Chevron in a research report on Tuesday, October 23rd. Goldman Sachs Group upgraded Chevron from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, October 2nd. Wells Fargo & Co reduced their price target on Chevron from $160.00 to $158.00 and set an “outperform” rating for the company in a research report on Monday, November 5th. Finally, Redburn Partners cut Chevron from a “buy” rating to a “neutral” rating and reduced their price target for the company from $130.00 to $115.00 in a research report on Wednesday, October 3rd. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Chevron has a consensus rating of “Buy” and an average price target of $139.13.

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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.

Further Reading: What is an investor looking for in an SEC filing?

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).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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