HBK Sorce Advisory LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 40.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,158 shares of the oil and gas company’s stock after selling 12,128 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Chevron were worth $1,903,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in CVX. BlackRock Inc. raised its holdings in Chevron by 3.5% during the 2nd quarter. BlackRock Inc. now owns 131,522,440 shares of the oil and gas company’s stock worth $16,366,651,000 after purchasing an additional 4,401,622 shares during the last quarter. Thoroughbred Financial Services LLC increased its stake in shares of Chevron by 12,204.4% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,259,805 shares of the oil and gas company’s stock valued at $325,980,000 after acquiring an additional 3,233,312 shares during the last quarter. APG Asset Management N.V. increased its stake in shares of Chevron by 59.6% in the 2nd quarter. APG Asset Management N.V. now owns 5,518,090 shares of the oil and gas company’s stock valued at $602,978,000 after acquiring an additional 2,061,187 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Chevron by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 157,513,617 shares of the oil and gas company’s stock valued at $19,600,995,000 after acquiring an additional 1,572,940 shares during the last quarter. Finally, PGGM Investments bought a new stake in shares of Chevron in the 2nd quarter valued at about $164,371,000. 65.61% of the stock is owned by hedge funds and other institutional investors.

Shares of CVX traded down $0.32 on Wednesday, hitting $123.57. The company’s stock had a trading volume of 201,227 shares, compared to its average volume of 5,007,580. 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 firm’s fifty day moving average price is $119.24 and its 200-day moving average price is $121.35. Chevron Co. has a fifty-two week low of $100.22 and a fifty-two week high of $127.60. The firm has a market capitalization of $230.66 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 3.05 and a beta of 1.01.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.53. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The business had revenue of $38.85 billion during the quarter, compared to analyst estimates of $40.14 billion. During the same period in the previous year, the firm earned $1.78 EPS. Chevron’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, equities analysts predict that Chevron Co. will post 6.64 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.19 dividend. The ex-dividend date was Friday, August 16th. This represents a $4.76 annualized dividend and a dividend yield of 3.85%. Chevron’s dividend payout ratio is presently 57.70%.

In related news, Chairman Michael K. Wirth sold 33,750 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $125.60, for a total value of $4,239,000.00. Following the completion of the transaction, the chairman now directly owns 33,750 shares in the company, valued at approximately $4,239,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Debra L. Reed acquired 4,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average price of $118.14 per share, with a total value of $502,095.00. The disclosure for this purchase can be found here. Insiders sold a total of 71,750 shares of company stock valued at $8,793,900 over the last quarter. 0.31% of the stock is owned by insiders.

CVX has been the subject of a number of recent analyst reports. Cowen set a $140.00 price target on Chevron and gave the company a “buy” rating in a research note on Friday, August 30th. Barclays initiated coverage on Chevron in a research note on Monday, August 19th. They issued an “overweight” rating and a $145.00 price target for the company. Morgan Stanley lowered their price target on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. ValuEngine cut Chevron from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. Finally, Independent Research set a $127.00 price target on Chevron and gave the company a “neutral” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Chevron has an average rating of “Buy” and a consensus target price of $136.22.

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.

Further Reading: Mutual Funds

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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