MQS Management LLC Has $899,000 Stock Position in Chevron Corporation $CVX

MQS Management LLC grew its position in Chevron Corporation (NYSE:CVX) by 112.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,791 shares of the oil and gas company’s stock after acquiring an additional 3,064 shares during the quarter. Chevron accounts for about 0.5% of MQS Management LLC’s holdings, making the stock its 13th largest position. MQS Management LLC’s holdings in Chevron were worth $899,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Quaker Wealth Management LLC increased its holdings in Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 439 shares during the period. Decker Retirement Planning Inc. acquired a new stake in shares of Chevron during the 3rd quarter valued at about $34,000. Vermillion & White Wealth Management Group LLC increased its stake in Chevron by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 118 shares during the period. IMG Wealth Management Inc. raised its position in Chevron by 52.3% in the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares in the last quarter. Finally, Marquette Asset Management LLC acquired a new position in Chevron in the third quarter worth about $41,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CVX shares. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $190.00 price target on shares of Chevron in a research note on Monday, February 2nd. Sanford C. Bernstein upped their price target on Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a research report on Monday, January 5th. Bank of America cut their price objective on Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Finally, Jefferies Financial Group upped their target price on shares of Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $175.00.

Insiders Place Their Bets

In related news, insider Andrew Benjamin Walz sold 22,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $176.53, for a total value of $3,918,966.00. Following the completion of the transaction, the insider owned 666 shares in the company, valued at $117,568.98. The trade was a 97.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Eimear P. Bonner sold 32,100 shares of the company’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $175.01, for a total value of $5,617,821.00. Following the transaction, the chief financial officer directly owned 4,366 shares in the company, valued at approximately $764,093.66. This represents a 88.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 793,158 shares of company stock valued at $127,919,578 over the last quarter. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of CVX stock opened at $182.39 on Wednesday. The stock’s fifty day moving average is $160.55 and its 200-day moving average is $156.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $182.95. The stock has a market capitalization of $367.25 billion, a PE ratio of 27.39, a PEG ratio of 12.28 and a beta of 0.70.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.08. The business had revenue of $45.79 billion for the quarter, compared to the consensus estimate of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 8.23%. The firm’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.06 EPS. Equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. This is an increase from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, February 17th. Chevron’s payout ratio is currently 102.70%.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.