Northstar Group Inc. Sells 248 Shares of Chevron Co. (NYSE:CVX)

Northstar Group Inc. lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 6.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,705 shares of the oil and gas company’s stock after selling 248 shares during the period. Northstar Group Inc.’s holdings in Chevron were worth $461,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Fisher Asset Management LLC boosted its stake in Chevron by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 4,755,742 shares of the oil and gas company’s stock worth $517,377,000 after purchasing an additional 143,056 shares in the last quarter. Rhumbline Advisers boosted its stake in Chevron by 1.1% in the 4th quarter. Rhumbline Advisers now owns 3,439,855 shares of the oil and gas company’s stock worth $374,222,000 after purchasing an additional 36,737 shares in the last quarter. Nordea Investment Management AB boosted its stake in Chevron by 298.6% in the 4th quarter. Nordea Investment Management AB now owns 1,695,198 shares of the oil and gas company’s stock worth $184,416,000 after purchasing an additional 1,269,889 shares in the last quarter. TD Asset Management Inc. boosted its stake in Chevron by 8.2% in the 4th quarter. TD Asset Management Inc. now owns 1,626,358 shares of the oil and gas company’s stock worth $176,931,000 after purchasing an additional 123,779 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Chevron by 7.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,557,671 shares of the oil and gas company’s stock worth $169,587,000 after purchasing an additional 104,658 shares in the last quarter. Hedge funds and other institutional investors own 65.55% of the company’s stock.

In other news, Director Enrique Hernandez, Jr. sold 4,200 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $122.13, for a total transaction of $512,946.00. Following the completion of the sale, the director now owns 15,689 shares of the company’s stock, valued at approximately $1,916,097.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Michael K. Wirth sold 33,750 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the sale, the chairman now directly owns 33,750 shares of the company’s stock, valued at approximately $4,239,000. The disclosure for this sale can be found here. Insiders have sold a total of 40,050 shares of company stock valued at $5,007,621 in the last ninety days. Insiders own 0.31% of the company’s stock.

A number of brokerages recently issued reports on CVX. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Friday, April 12th. Morgan Stanley lowered their target price on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Citigroup assumed coverage on shares of Chevron in a research note on Monday, May 13th. They set a “buy” rating and a $135.00 target price on the stock. Zacks Investment Research cut shares of Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Cowen restated a “buy” rating and set a $142.00 target price on shares of Chevron in a research note on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $135.41.

CVX traded down $0.01 during midday trading on Friday, hitting $120.73. 9,025,553 shares of the company traded hands, compared to its average volume of 4,276,224. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a market cap of $234.49 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 3.03 and a beta of 1.00. The firm has a 50-day moving average of $124.02. Chevron Co. has a 52 week low of $100.22 and a 52 week high of $127.60.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.53. Chevron had a net margin of 8.45% and a return on equity of 9.07%. The firm had revenue of $38.85 billion during the quarter, compared to analyst estimates of $40.14 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, analysts expect that Chevron Co. will post 6.77 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Friday, August 16th. Chevron’s payout ratio is currently 57.70%.

Chevron Company 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.

Featured Article: How do candlesticks reflect price movement?

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.