Chevron Corporation $CVX Shares Bought by Managed Asset Portfolios LLC

Managed Asset Portfolios LLC grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,311 shares of the oil and gas company’s stock after purchasing an additional 3,395 shares during the period. Chevron comprises about 2.5% of Managed Asset Portfolios LLC’s portfolio, making the stock its 19th biggest position. Managed Asset Portfolios LLC’s holdings in Chevron were worth $19,232,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. NorthStar Asset Management LLC NJ grew its stake in Chevron by 7.5% during the 1st quarter. NorthStar Asset Management LLC NJ now owns 4,257 shares of the oil and gas company’s stock worth $712,000 after purchasing an additional 296 shares in the last quarter. GW&K Investment Management LLC raised its position in Chevron by 33.8% in the 1st quarter. GW&K Investment Management LLC now owns 1,260 shares of the oil and gas company’s stock valued at $211,000 after purchasing an additional 318 shares in the last quarter. Ignite Planners LLC boosted its stake in shares of Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock valued at $2,060,000 after buying an additional 1,519 shares during the period. PFG Advisors boosted its stake in shares of Chevron by 10.0% in the 1st quarter. PFG Advisors now owns 41,302 shares of the oil and gas company’s stock valued at $6,909,000 after buying an additional 3,764 shares during the period. Finally, Oakwell Private Wealth Management LLC grew its position in shares of Chevron by 7.4% during the first quarter. Oakwell Private Wealth Management LLC now owns 3,074 shares of the oil and gas company’s stock worth $514,000 after buying an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on CVX shares. Mizuho raised their target price on shares of Chevron from $191.00 to $204.00 and gave the company an “outperform” rating in a report on Thursday, November 13th. TD Cowen increased their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 price objective (down from $170.00) on shares of Chevron in a research report on Friday, October 17th. Wells Fargo & Company boosted their target price on shares of Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Finally, Bank of America raised their price target on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $166.55.

Chevron Trading Down 0.8%

Shares of Chevron stock opened at $153.55 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $155.26 and a 200-day simple moving average of $150.64. The stock has a market cap of $309.18 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same period last year, the business earned $2.48 EPS. Chevron’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s payout ratio is presently 96.20%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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 of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.