Motco Has $13.68 Million Position in Chevron Co. (NYSE:CVX)

Motco trimmed its position in Chevron Co. (NYSE:CVXGet Rating) by 5.3% during the first quarter, HoldingsChannel.com reports. The fund owned 84,016 shares of the oil and gas company’s stock after selling 4,657 shares during the period. Chevron makes up approximately 0.9% of Motco’s investment portfolio, making the stock its 22nd biggest holding. Motco’s holdings in Chevron were worth $13,681,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Secure Asset Management LLC increased its holdings in shares of Chevron by 15.7% in the first quarter. Secure Asset Management LLC now owns 4,382 shares of the oil and gas company’s stock worth $713,000 after acquiring an additional 593 shares in the last quarter. Guinness Atkinson Asset Management Inc grew its position in shares of Chevron by 26.4% in the 1st quarter. Guinness Atkinson Asset Management Inc now owns 6,346 shares of the oil and gas company’s stock valued at $1,033,000 after purchasing an additional 1,326 shares during the period. ACT Wealth Management LLC increased its stake in Chevron by 3.0% during the 1st quarter. ACT Wealth Management LLC now owns 4,781 shares of the oil and gas company’s stock worth $778,000 after purchasing an additional 140 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in Chevron by 4.9% during the 1st quarter. Verdence Capital Advisors LLC now owns 78,544 shares of the oil and gas company’s stock worth $12,789,000 after purchasing an additional 3,681 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE raised its holdings in Chevron by 2.4% during the 1st quarter. Smithbridge Asset Management Inc. DE now owns 12,278 shares of the oil and gas company’s stock worth $1,999,000 after buying an additional 290 shares during the period. 65.89% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 1.7 %

CVX opened at $153.64 on Friday. The stock’s fifty day simple moving average is $154.37 and its 200 day simple moving average is $155.35. Chevron Co. has a 1-year low of $92.86 and a 1-year high of $182.40. The stock has a market cap of $301.87 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 0.61 and a beta of 1.15. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20.

Chevron (NYSE:CVXGet Rating) last issued its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, beating the consensus estimate of $4.66 by $1.16. The company had revenue of $68.76 billion for the quarter, compared to analyst estimates of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 20.19%. The company’s revenue was up 82.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.71 earnings per share. As a group, research analysts expect that Chevron Co. will post 17.51 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 19th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Thursday, August 18th. Chevron’s dividend payout ratio is presently 37.89%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a report on Monday, August 1st. Societe Generale upgraded Chevron from a “hold” rating to a “buy” rating in a report on Thursday. Credit Suisse Group boosted their price target on Chevron from $190.00 to $202.00 and gave the company an “outperform” rating in a report on Thursday, June 9th. Raymond James increased their price objective on Chevron from $173.00 to $191.00 and gave the stock an “outperform” rating in a report on Monday, April 18th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $172.00 target price on shares of Chevron in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $173.00.

Insider Activity

In other Chevron news, Director Wanda M. Austin sold 12,039 shares of the stock in a transaction on Friday, May 27th. The stock was sold at an average price of $177.29, for a total transaction of $2,134,394.31. Following the transaction, the director now owns 3,543 shares in the company, valued at approximately $628,138.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Chevron news, EVP Mark A. Nelson sold 117,400 shares of the business’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total value of $18,721,778.00. Following the completion of the sale, the executive vice president now owns 788 shares of the company’s stock, valued at approximately $125,662.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wanda M. Austin sold 12,039 shares of the stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $177.29, for a total transaction of $2,134,394.31. Following the transaction, the director now owns 3,543 shares in the company, valued at approximately $628,138.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 399,043 shares of company stock valued at $67,010,843. 0.32% of the stock is owned by insiders.

Chevron Company Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation 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.

See Also

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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