Twin Capital Management Inc. Decreases Stock Position in Chevron Co. (NYSE:CVX)

Twin Capital Management Inc. lessened its stake in Chevron Co. (NYSE:CVXGet Rating) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,425 shares of the oil and gas company’s stock after selling 145 shares during the quarter. Chevron comprises about 0.7% of Twin Capital Management Inc.’s holdings, making the stock its 24th largest holding. Twin Capital Management Inc.’s holdings in Chevron were worth $6,745,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Qube Research & Technologies Ltd increased its holdings in shares of Chevron by 123.3% in the fourth quarter. Qube Research & Technologies Ltd now owns 135,720 shares of the oil and gas company’s stock valued at $15,927,000 after purchasing an additional 74,933 shares during the last quarter. AGF Investments LLC increased its holdings in shares of Chevron by 58.9% in the fourth quarter. AGF Investments LLC now owns 2,957 shares of the oil and gas company’s stock valued at $347,000 after purchasing an additional 1,096 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Chevron by 11.0% in the fourth quarter. Pinnacle Associates Ltd. now owns 130,640 shares of the oil and gas company’s stock valued at $15,331,000 after purchasing an additional 12,923 shares during the last quarter. Valmark Advisers Inc. increased its holdings in shares of Chevron by 22.5% in the fourth quarter. Valmark Advisers Inc. now owns 9,195 shares of the oil and gas company’s stock valued at $1,079,000 after purchasing an additional 1,689 shares during the last quarter. Finally, TrueWealth Advisors LLC increased its holdings in shares of Chevron by 7.4% in the fourth quarter. TrueWealth Advisors LLC now owns 7,597 shares of the oil and gas company’s stock valued at $892,000 after purchasing an additional 526 shares during the last quarter. Institutional investors and hedge funds own 65.89% of the company’s stock.

Chevron Trading Up 1.7 %

NYSE:CVX opened at $153.64 on Friday. The firm 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 stock has a fifty day moving average price of $154.37 and a 200 day moving average price of $155.35. Chevron Co. has a 12-month low of $92.86 and a 12-month high of $182.40. 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 released its earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $1.16. The firm had revenue of $68.76 billion during the quarter, compared to analyst estimates of $57.69 billion. Chevron had a return on equity of 20.19% and a net margin of 13.45%. Chevron’s revenue was up 82.9% compared to the same quarter last year. During the same period last year, the business posted $1.71 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 17.51 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Insiders Place Their Bets

In other Chevron news, insider David A. Inchausti sold 5,600 shares of Chevron stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $164.85, for a total transaction of $923,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chevron news, insider David A. Inchausti sold 5,600 shares of Chevron stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $164.85, for a total transaction of $923,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $161.45, for a total value of $1,845,696.40. Following the sale, the director now directly owns 3,560 shares of the company’s stock, valued at $574,762. The disclosure for this sale can be found here. Insiders sold 399,043 shares of company stock valued at $67,010,843 in the last ninety days. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CVX. Barclays increased their price target on Chevron from $183.00 to $196.00 and gave the company an “overweight” rating in a report on Tuesday, May 31st. Credit Suisse Group raised their target price on Chevron from $190.00 to $202.00 and gave the stock an “outperform” rating in a research note on Thursday, June 9th. Societe Generale raised Chevron from a “hold” rating to a “buy” rating in a research note on Thursday. Cowen cut their target price on Chevron from $179.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, July 1st. Finally, Bank of America raised their target price on Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. One 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.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $173.00.

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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