J. Derek Lewis & Associates Inc. Takes Position in Chevron Corporation $CVX

J. Derek Lewis & Associates Inc. bought a new stake in Chevron Corporation (NYSE:CVX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,555 shares of the oil and gas company’s stock, valued at approximately $694,000.

Several other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Chevron during the 4th quarter worth approximately $3,727,586,000. State Street Corp raised its stake in Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after acquiring an additional 12,789,399 shares during the period. Berkshire Hathaway Inc raised its stake in Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after acquiring an additional 8,091,570 shares during the period. Primecap Management Co. CA bought a new stake in Chevron in the 3rd quarter valued at $988,083,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Chevron by 822.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock valued at $946,658,000 after purchasing an additional 5,537,580 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 615,200 shares of company stock valued at $118,022,760 in the last three months. Insiders own 0.56% of the company’s stock.

Chevron Stock Down 0.1%

CVX stock opened at $173.51 on Friday. Chevron Corporation has a fifty-two week low of $142.40 and a fifty-two week high of $214.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The stock has a market capitalization of $345.56 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 0.57 and a beta of 0.48. The business’s fifty day moving average price is $186.63 and its two-hundred day moving average price is $179.01.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the previous year, the business posted $2.18 earnings per share. Chevron’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 4.1%. Chevron’s payout ratio is 123.40%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Sanford C. Bernstein reduced their price objective on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a research note on Friday, March 20th. Mizuho lifted their target price on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Bank of America upped their price target on shares of Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, UBS Group increased their price target on shares of Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a report on Monday, May 4th. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $205.70.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.