Family Management Corp Increases Position in Chevron Co. (NYSE:CVX)

Family Management Corp lifted its position in Chevron Co. (NYSE:CVX) by 16.4% in the second quarter, HoldingsChannel.com reports. The firm owned 4,984 shares of the oil and gas company’s stock after purchasing an additional 704 shares during the quarter. Family Management Corp’s holdings in Chevron were worth $620,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Murphy Middleton Hinkle & Parker Inc. lifted its holdings in shares of Chevron by 0.6% in the 2nd quarter. Murphy Middleton Hinkle & Parker Inc. now owns 14,149 shares of the oil and gas company’s stock worth $1,761,000 after acquiring an additional 84 shares during the last quarter. Arlington Financial Advisors LLC lifted its holdings in shares of Chevron by 0.4% in the 2nd quarter. Arlington Financial Advisors LLC now owns 20,221 shares of the oil and gas company’s stock worth $2,516,000 after acquiring an additional 85 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC lifted its holdings in shares of Chevron by 1.7% in the 2nd quarter. Landsberg Bennett & Dubbaneh LLC now owns 5,051 shares of the oil and gas company’s stock worth $631,000 after acquiring an additional 86 shares during the last quarter. JNBA Financial Advisors lifted its holdings in shares of Chevron by 1.6% in the 2nd quarter. JNBA Financial Advisors now owns 5,604 shares of the oil and gas company’s stock worth $697,000 after acquiring an additional 86 shares during the last quarter. Finally, Gilbert & Cook Inc. lifted its holdings in shares of Chevron by 3.4% in the 2nd quarter. Gilbert & Cook Inc. now owns 2,745 shares of the oil and gas company’s stock worth $342,000 after acquiring an additional 90 shares during the last quarter. 65.61% of the stock is owned by hedge funds and other institutional investors.

CVX traded up $0.59 on Friday, reaching $124.25. 3,035,959 shares of the company traded hands, compared to its average volume of 5,330,008. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.16. The company has a market cap of $235.20 billion, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 3.11 and a beta of 1.01. The firm has a fifty day simple moving average of $119.22 and a two-hundred day simple moving average of $121.38. Chevron Co. has a one year low of $100.22 and a one year high of $127.60.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.53. The business had revenue of $38.85 billion for the quarter, compared to the consensus estimate of $40.14 billion. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 EPS. On average, equities analysts forecast that Chevron Co. will post 6.64 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Friday, August 16th. Chevron’s dividend payout ratio (DPR) is 57.70%.

Several equities research analysts have recently issued reports on CVX shares. Cowen set a $140.00 target price on shares of Chevron and gave the stock a “buy” rating in a report on Friday, August 30th. Independent Research set a $127.00 target price on shares of Chevron and gave the stock a “neutral” rating in a report on Thursday, August 29th. Barclays started coverage on shares of Chevron in a report on Monday, August 19th. They set an “overweight” rating and a $145.00 price objective for the company. BMO Capital Markets started coverage on shares of Chevron in a report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 price objective for the company. Finally, Morgan Stanley decreased their price objective on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen 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 $136.22.

In other Chevron news, CEO Michael K. Wirth sold 33,750 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $125.00, for a total transaction of $4,218,750.00. Following the transaction, the chief executive officer now owns 33,750 shares of the company’s stock, valued at approximately $4,218,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Pierre R. Breber sold 15,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $124.97, for a total transaction of $1,874,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 86,750 shares of company stock worth $10,648,200 in the last three months. Insiders own 0.31% of the company’s stock.

About Chevron

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: Exchange-Traded Funds (ETFs)

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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