Holderness Investments Co. lifted its holdings in Chevron Co. (NYSE:CVX) by 5.1% in the second quarter, HoldingsChannel.com reports. The fund owned 13,893 shares of the oil and gas company’s stock after buying an additional 679 shares during the quarter. Holderness Investments Co.’s holdings in Chevron were worth $1,729,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Guidant Wealth Advisors boosted its stake in Chevron by 63.9% during the second quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 101 shares during the last quarter. Evolution Wealth Advisors LLC bought a new position in Chevron during the second quarter valued at approximately $34,000. Cordasco Financial Network boosted its stake in Chevron by 55.3% during the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock valued at $47,000 after buying an additional 135 shares during the last quarter. Next Capital Management LLC bought a new position in Chevron during the second quarter valued at approximately $52,000. Finally, Ashburton Jersey Ltd bought a new position in Chevron during the second quarter valued at approximately $54,000. 66.45% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:CVX traded up $1.66 during trading on Wednesday, hitting $117.79. The company had a trading volume of 552,360 shares, compared to its average volume of 6,095,443. The stock has a market cap of $219.86 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 2.79 and a beta of 1.00. Chevron Co. has a one year low of $100.22 and a one year high of $127.60. The company has a fifty day simple moving average of $122.50 and a two-hundred day simple moving average of $121.41. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.15 and a quick ratio of 0.91.

Chevron (NYSE:CVX) last posted 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 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 last year, the company earned $1.78 EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Co. will post 6.93 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a $1.19 dividend. The ex-dividend date is Friday, August 16th. This represents a $4.76 annualized dividend and a dividend yield of 4.04%. Chevron’s payout ratio is 57.70%.

In other Chevron news, Director Debra L. Reed purchased 4,250 shares of Chevron stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average cost of $118.14 per share, for a total transaction of $502,095.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph C. Geagea sold 8,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $122.50, for a total value of $980,000.00. Following the completion of the sale, the insider now owns 9,243 shares in the company, valued at $1,132,267.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,750 shares of company stock worth $6,448,700. Company insiders own 0.31% of the company’s stock.

A number of equities analysts recently commented on CVX shares. Zacks Investment Research lowered Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. BMO Capital Markets started coverage on Chevron in a research note on Tuesday. They set an “outperform” rating and a $165.00 price target for the company. Barclays started coverage on Chevron in a research note on Monday. They set an “overweight” rating and a $145.00 price target for the company. Citigroup started coverage on Chevron in a research note on Monday, May 13th. They set a “buy” rating and a $135.00 price target for the company. Finally, Morgan Stanley lowered their price objective on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $136.78.

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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