Bridges Investment Counsel Inc. decreased its holdings in Chevron Corporation (NYSE:CVX) by 50.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,681 shares of the oil and gas company’s stock after selling 53,371 shares during the quarter. Chevron comprises approximately 3.4% of Bridges Investment Counsel Inc.’s portfolio, making the stock its 5th biggest position. Bridges Investment Counsel Inc.’s holdings in Chevron were worth $6,073,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Shine Investment Advisory Services Inc. bought a new position in shares of Chevron during the second quarter valued at $106,000. Thompson Davis & CO. Inc. increased its holdings in shares of Chevron by 20.0% during the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after acquiring an additional 191 shares in the last quarter. Winfield Associates Inc. increased its holdings in shares of Chevron by 5.1% during the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after acquiring an additional 63 shares in the last quarter. Daiwa SB Investments Ltd. increased its holdings in shares of Chevron by 438.5% during the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 1,140 shares in the last quarter. Finally, Acrospire Investment Management LLC increased its holdings in shares of Chevron by 133.3% during the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 800 shares in the last quarter. 63.77% of the stock is owned by institutional investors.

Shares of Chevron Corporation (CVX) opened at $119.70 on Tuesday. Chevron Corporation has a 1-year low of $102.55 and a 1-year high of $122.30. The firm has a market capitalization of $227,412.05, a price-to-earnings ratio of 33.54, a price-to-earnings-growth ratio of 3.95 and a beta of 1.21. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.04. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The business had revenue of $36.21 billion during the quarter, compared to analysts’ expectations of $34.06 billion. During the same period in the prior year, the business earned $0.68 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. sell-side analysts predict that Chevron Corporation will post 4.33 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 17th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Thursday, November 16th. Chevron’s dividend payout ratio (DPR) is currently 125.95%.

Several equities research analysts recently commented on CVX shares. TheStreet upgraded Chevron from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Jefferies Group set a $130.00 price target on Chevron and gave the company a “buy” rating in a research note on Tuesday, August 29th. Piper Jaffray Companies set a $119.00 price target on Chevron and gave the company a “buy” rating in a research note on Friday, August 25th. Credit Suisse Group set a $123.00 price target on Chevron and gave the company a “buy” rating in a research note on Friday, August 25th. Finally, Goldman Sachs Group restated a “buy” rating and set a $123.00 price target (up from $118.00) on shares of Chevron in a research note on Tuesday, September 19th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $121.22.

In other news, Vice Chairman Michael K. Wirth sold 1,229 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total value of $145,022.00. Following the transaction, the insider now directly owns 1,229 shares of the company’s stock, valued at $145,022. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Patricia E. Yarrington sold 116,857 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $115.29, for a total value of $13,472,443.53. Following the completion of the transaction, the chief financial officer now directly owns 39,506 shares in the company, valued at $4,554,646.74. The disclosure for this sale can be found here. Insiders have sold a total of 314,000 shares of company stock valued at $36,540,822 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

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Chevron Company Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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