Lincluden Management Ltd. decreased its stake in Chevron Co. (NYSE:CVX) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,875 shares of the oil and gas company’s stock after selling 895 shares during the period. Lincluden Management Ltd.’s holdings in Chevron were worth $2,797,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. Canton Hathaway LLC bought a new position in Chevron during the third quarter worth about $141,000. Signature Estate & Investment Advisors LLC bought a new position in Chevron during the third quarter worth about $144,000. O Brien Wealth Partners LLC grew its holdings in Chevron by 4,389.3% during the third quarter. O Brien Wealth Partners LLC now owns 1,257 shares of the oil and gas company’s stock worth $154,000 after purchasing an additional 1,229 shares during the period. Atlantic Trust LLC grew its holdings in Chevron by 54.7% during the second quarter. Atlantic Trust LLC now owns 1,470 shares of the oil and gas company’s stock worth $186,000 after purchasing an additional 520 shares during the period. Finally, Almanack Investment Partners LLC. bought a new position in Chevron during the third quarter worth about $188,000. Institutional investors own 64.75% of the company’s stock.

Shares of NYSE:CVX opened at $125.31 on Friday. Chevron Co. has a 12-month low of $100.22 and a 12-month high of $131.08. The company has a market cap of $238.10 billion, a PE ratio of 15.19, a PEG ratio of 3.75 and a beta of 1.03. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.25 and a quick ratio of 1.04.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 1st. The oil and gas company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. Chevron had a return on equity of 9.78% and a net margin of 8.91%. The company had revenue of $42.35 billion during the quarter, compared to analysts’ expectations of $41.46 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. The business’s revenue was up 12.6% on a year-over-year basis. As a group, sell-side analysts predict that Chevron Co. will post 6.63 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 15th were issued a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Thursday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.12. Chevron’s payout ratio is currently 57.70%.

In other news, insider Jeanette L. Ourada sold 7,200 shares of Chevron stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $116.50, for a total value of $838,800.00. Following the completion of the sale, the insider now directly owns 7,200 shares in the company, valued at $838,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $112.20, for a total transaction of $532,950.00. Following the completion of the sale, the insider now owns 4,750 shares of the company’s stock, valued at $532,950. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,700 shares of company stock valued at $1,964,740. Corporate insiders own 0.46% of the company’s stock.

CVX has been the subject of a number of research analyst reports. Raymond James set a $135.00 price target on Chevron and gave the stock a “buy” rating in a report on Thursday, December 20th. Cowen reiterated an “outperform” rating and set a $140.00 price target (down previously from $160.00) on shares of Chevron in a report on Thursday, February 28th. Royal Bank of Canada upgraded Chevron to a “sector perform” rating and set a $145.00 price target for the company in a report on Wednesday, March 6th. Societe Generale reduced their price target on Chevron from $150.00 to $128.00 and set a “buy” rating for the company in a report on Wednesday, December 19th. Finally, HSBC cut Chevron from a “buy” rating to a “hold” rating and reduced their price target for the stock from $136.00 to $122.00 in a report on Monday, January 14th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $134.18.

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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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