Whitnell & Co. Grows Stake in Chevron Co. (NYSE:CVX)

Whitnell & Co. lifted its position in Chevron Co. (NYSE:CVX) by 26.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,508 shares of the oil and gas company’s stock after buying an additional 4,682 shares during the period. Whitnell & Co.’s holdings in Chevron were worth $2,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Guidant Wealth Advisors raised its position in shares of Chevron by 63.9% during the 2nd quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 101 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new stake in Chevron in the 2nd quarter valued at about $34,000. Transamerica Financial Advisors Inc. acquired a new stake in Chevron in the 2nd quarter valued at about $46,000. Cordasco Financial Network raised its holdings in Chevron by 55.3% in the 2nd quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock valued at $47,000 after acquiring an additional 135 shares during the last quarter. Finally, CKW Financial Group raised its holdings in Chevron by 154.0% in the 2nd quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 251 shares during the last quarter. Hedge funds and other institutional investors own 65.68% of the company’s stock.

In related news, EVP Joseph C. Geagea sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $116.98, for a total transaction of $1,754,700.00. Following the transaction, the executive vice president now owns 6,243 shares of the company’s stock, valued at $730,306.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael K. Wirth sold 33,750 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $125.00, for a total transaction of $4,218,750.00. Following the transaction, the chief executive officer now directly owns 33,750 shares in the company, valued at approximately $4,218,750. The disclosure for this sale can be found here. Insiders have sold 91,750 shares of company stock worth $11,216,850 in the last ninety days. 0.31% of the stock is currently owned by insiders.

CVX traded down $0.96 during midday trading on Friday, hitting $120.93. 4,176,056 shares of the company’s stock traded hands, compared to its average volume of 6,442,372. The company has a market cap of $231.49 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 3.25 and a beta of 0.99. The stock’s fifty day simple moving average is $117.65 and its 200-day simple moving average is $119.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.15 and a quick ratio of 0.91. Chevron Co. has a one year low of $100.22 and a one year high of $127.34.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.11). Chevron had a net margin of 8.70% and a return on equity of 8.89%. The business had revenue of $36.12 billion for the quarter, compared to the consensus estimate of $37.69 billion. During the same period in the previous year, the business posted $2.11 EPS. Chevron’s revenue was down 17.9% compared to the same quarter last year. On average, research analysts expect that Chevron Co. will post 6.25 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Friday, November 15th. Chevron’s dividend payout ratio (DPR) is currently 57.70%.

A number of analysts have recently issued reports on CVX shares. ValuEngine upgraded shares of Chevron from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley lowered their price objective on shares of Chevron from $144.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. lowered their price objective on shares of Chevron from $142.00 to $139.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Cowen lowered their price objective on shares of Chevron from $140.00 to $134.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Independent Research set a $127.00 price objective on shares of Chevron and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $135.88.

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.

Recommended Story: What is basic economics?

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.