Bridgeway Capital Management LLC Has $20.41 Million Stock Holdings in Chevron Corporation $CVX

Bridgeway Capital Management LLC grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 24.9% in the second quarter, Holdings Channel reports. The institutional investor owned 142,567 shares of the oil and gas company’s stock after acquiring an additional 28,378 shares during the period. Bridgeway Capital Management LLC’s holdings in Chevron were worth $20,414,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVX. Kingstone Capital Partners Texas LLC increased its holdings in Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Chevron by 4.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock valued at $4,979,255,000 after buying an additional 1,342,723 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Chevron by 1.9% during the second quarter. Fisher Asset Management LLC now owns 20,826,805 shares of the oil and gas company’s stock worth $2,982,190,000 after buying an additional 378,936 shares in the last quarter. Norges Bank purchased a new stake in Chevron in the 2nd quarter valued at $2,721,477,000. Finally, Franklin Resources Inc. lifted its stake in Chevron by 2.1% during the 2nd quarter. Franklin Resources Inc. now owns 17,764,589 shares of the oil and gas company’s stock valued at $2,543,712,000 after acquiring an additional 370,287 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 275,000 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. Bank of America reduced their target price on shares of Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday. Zacks Research lowered shares of Chevron from a “hold” rating to a “strong sell” rating in a research note on Monday, November 24th. Scotiabank boosted their target price on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 price target (down from $170.00) on shares of Chevron in a research report on Friday, October 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $166.00.

Chevron Trading Down 0.5%

NYSE:CVX opened at $149.95 on Friday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $152.74 and its 200 day moving average is $151.98. The stock has a market capitalization of $301.93 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 8.95 and a beta of 0.68.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The business had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the business posted $2.48 earnings per share. Sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.6%. Chevron’s dividend payout ratio is 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.