Ladenburg Thalmann Financial Services Inc. grew its stake in Chevron Co. (NYSE:CVX) by 3.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 508,693 shares of the oil and gas company’s stock after buying an additional 15,715 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Chevron were worth $57,948,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Chevron by 1.9% in the fourth quarter. BlackRock Inc. now owns 128,530,034 shares of the oil and gas company’s stock worth $16,090,676,000 after acquiring an additional 2,356,734 shares during the period. Geode Capital Management LLC boosted its stake in shares of Chevron by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 19,836,151 shares of the oil and gas company’s stock worth $2,478,038,000 after acquiring an additional 655,892 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Chevron by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 13,026,526 shares of the oil and gas company’s stock worth $1,485,545,000 after acquiring an additional 549,931 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Chevron by 3.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 8,728,794 shares of the oil and gas company’s stock worth $995,432,000 after acquiring an additional 275,289 shares during the period. Finally, Boston Partners boosted its stake in shares of Chevron by 2.4% in the first quarter. Boston Partners now owns 7,482,304 shares of the oil and gas company’s stock worth $853,282,000 after acquiring an additional 175,360 shares during the period. Institutional investors and hedge funds own 64.27% of the company’s stock.

CVX has been the subject of a number of recent analyst reports. Mizuho initiated coverage on Chevron in a research note on Friday, June 8th. They issued a “buy” rating and a $145.00 price objective for the company. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Chevron in a research note on Monday, April 23rd. Goldman Sachs Group reaffirmed a “buy” rating and issued a $141.00 price objective on shares of Chevron in a research note on Tuesday, July 31st. Zacks Investment Research lowered Chevron from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Finally, Credit Suisse Group set a $132.00 price objective on Chevron and gave the stock a “hold” rating in a research note on Sunday, July 1st. Eight equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $138.49.

In related news, insider James William Johnson sold 9,500 shares of the stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $129.44, for a total transaction of $1,229,680.00. Following the completion of the transaction, the insider now directly owns 9,500 shares of the company’s stock, valued at $1,229,680. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 19,000 shares of company stock valued at $2,422,690. 0.46% of the stock is owned by corporate insiders.

Shares of Chevron stock opened at $117.80 on Friday. Chevron Co. has a 12 month low of $105.30 and a 12 month high of $133.88. The company has a market cap of $236.34 billion, a P/E ratio of 31.84, a PEG ratio of 2.18 and a beta of 1.10. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 0.87.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 27th. The oil and gas company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.31). Chevron had a net margin of 7.87% and a return on equity of 6.89%. The firm had revenue of $42.24 billion for the quarter, compared to the consensus estimate of $46.62 billion. During the same period in the previous year, the company posted $0.77 earnings per share. Chevron’s quarterly revenue was up 22.5% on a year-over-year basis. research analysts predict that Chevron Co. will post 8.1 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 17th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Thursday, August 16th. Chevron’s payout ratio is presently 121.08%.

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.

Further Reading: Outstanding Shares

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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