Chevron Corporation (CVX) Position Increased by Grisanti Capital Management LLC

Grisanti Capital Management LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,925 shares of the company’s stock after acquiring an additional 70 shares during the quarter. Grisanti Capital Management LLC’s holdings in Chevron Corporation were worth $1,348,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. HPM Partners LLC lifted its holdings in Chevron Corporation by 197.0% during the first quarter. HPM Partners LLC now owns 38,735 shares of the company’s stock worth $4,159,000 after acquiring an additional 25,691 shares during the period. Lincoln National Corp lifted its holdings in Chevron Corporation by 33.3% during the first quarter. Lincoln National Corp now owns 82,502 shares of the company’s stock worth $8,859,000 after acquiring an additional 20,615 shares during the period. Adams Natural Resources Fund Inc. lifted its holdings in Chevron Corporation by 8.8% during the second quarter. Adams Natural Resources Fund Inc. now owns 596,800 shares of the company’s stock worth $62,264,000 after acquiring an additional 48,100 shares during the period. Korea Investment CORP lifted its holdings in Chevron Corporation by 5.1% during the second quarter. Korea Investment CORP now owns 1,476,610 shares of the company’s stock worth $154,055,000 after acquiring an additional 72,173 shares during the period. Finally, Strategic Financial Group LLC lifted its holdings in Chevron Corporation by 6.0% during the first quarter. Strategic Financial Group LLC now owns 8,979 shares of the company’s stock worth $964,000 after acquiring an additional 510 shares during the period. Institutional investors and hedge funds own 63.03% of the company’s stock.

Chevron Corporation (NYSE CVX) opened at C$117.18 on Monday. Chevron Corporation has a 52-week low of C$102.55 and a 52-week high of C$120.89. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. The company has a market capitalization of $222,568.64, a PE ratio of 32.82, a P/E/G ratio of 3.91 and a beta of 1.22.

Chevron Corporation (NYSE:CVX) last posted its earnings results on Friday, October 27th. The company reported C$1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.99 by C$0.04. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The business had revenue of C$36.21 billion during the quarter, compared to analysts’ expectations of C$34.06 billion. During the same period in the previous year, the business earned $0.68 earnings per share. The firm’s revenue was up 20.1% on a year-over-year basis. equities research analysts predict that Chevron Corporation will post 4.28 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron Corporation’s payout ratio is 125.95%.

A number of brokerages recently commented on CVX. BidaskClub lowered Chevron Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. J P Morgan Chase & Co restated an “overweight” rating on shares of Chevron Corporation in a research note on Saturday, September 16th. Citigroup Inc. lowered their target price on Chevron Corporation from $129.00 to $118.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Zacks Investment Research lowered Chevron Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Finally, Cowen and Company restated a “buy” rating and issued a $122.00 target price on shares of Chevron Corporation in a research note on Tuesday, September 19th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the stock. Chevron Corporation has a consensus rating of “Buy” and an average target price of C$120.63.

In other news, Vice Chairman Michael K. Wirth sold 1,229 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of C$118.00, for a total value of C$145,022.00. Following the completion of the transaction, the insider now directly owns 1,229 shares in the company, valued at approximately C$145,022. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of C$120.00, for a total value of C$3,060,000.00. Following the completion of the transaction, the vice president now owns 25,500 shares of the company’s stock, valued at C$3,060,000. The disclosure for this sale can be found here. Over the last quarter, insiders bought 50,000 shares of company stock valued at $6,590 and sold 29,041 shares valued at $3,453,285. 0.38% of the stock is currently owned by corporate insiders.

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About Chevron Corporation

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Institutional Ownership by Quarter for Chevron Corporation (NYSE:CVX)

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