Salem Investment Counselors Inc. increased its holdings in shares of Chevron Co. (NYSE:CVX) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,459 shares of the oil and gas company’s stock after acquiring an additional 769 shares during the period. Salem Investment Counselors Inc.’s holdings in Chevron were worth $4,230,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Moneta Group Investment Advisors LLC grew its holdings in Chevron by 814.2% in the second quarter. Moneta Group Investment Advisors LLC now owns 202,772 shares of the oil and gas company’s stock valued at $1,691,000 after purchasing an additional 180,592 shares during the last quarter. Millennium Management LLC grew its holdings in Chevron by 478.5% in the second quarter. Millennium Management LLC now owns 2,015,778 shares of the oil and gas company’s stock valued at $254,855,000 after purchasing an additional 1,667,339 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in Chevron by 3.1% in the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 59,471 shares of the oil and gas company’s stock valued at $7,519,000 after purchasing an additional 1,800 shares during the last quarter. PointState Capital LP acquired a new stake in Chevron in the second quarter valued at $208,402,000. Finally, Waddell & Reed Financial Inc. grew its holdings in Chevron by 2.3% in the second quarter. Waddell & Reed Financial Inc. now owns 1,197,711 shares of the oil and gas company’s stock valued at $151,427,000 after purchasing an additional 27,129 shares during the last quarter. 64.67% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider James William Johnson sold 4,750 shares of the company’s stock in a transaction on Thursday, October 11th. The stock was sold at an average price of $119.97, for a total value of $569,857.50. Following the sale, the insider now directly owns 4,750 shares in the company, valued at $569,857.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 23,750 shares of company stock worth $2,821,833 over the last 90 days. Company insiders own 0.38% of the company’s stock.

Several analysts have weighed in on CVX shares. Bank of America lowered Chevron from a “buy” rating to a “neutral” rating and lowered their target price for the company from $150.00 to $135.00 in a report on Thursday, September 6th. Berenberg Bank started coverage on Chevron in a report on Tuesday, September 11th. They issued a “hold” rating and a $135.00 target price on the stock. HSBC raised Chevron from a “hold” rating to a “buy” rating in a report on Tuesday, September 11th. Royal Bank of Canada set a $150.00 target price on Chevron and gave the company a “hold” rating in a report on Thursday, September 20th. Finally, Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $137.00 target price on the stock in a report on Monday, October 1st. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $139.13.

Shares of NYSE:CVX opened at $115.91 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19. Chevron Co. has a 52-week low of $107.54 and a 52-week high of $133.88. The firm has a market capitalization of $224.02 billion, a PE ratio of 31.33, a P/E/G ratio of 2.03 and a beta of 1.13.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $47.17 billion. During the same period in the prior year, the business earned $1.03 earnings per share. The business’s revenue was up 21.5% on a year-over-year basis. On average, equities analysts anticipate that Chevron Co. will post 8.26 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 given a $1.12 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $4.48 annualized dividend and a dividend yield of 3.87%. Chevron’s dividend payout ratio is currently 121.08%.

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Chevron 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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