First Business Financial Services Inc. cut its holdings in Chevron Co. (NYSE:CVX) by 3.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,999 shares of the oil and gas company’s stock after selling 148 shares during the period. First Business Financial Services Inc.’s holdings in Chevron were worth $338,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Grandview Asset Management LLC lifted its position in Chevron by 3.9% during the 4th quarter. Grandview Asset Management LLC now owns 2,949 shares of the oil and gas company’s stock worth $249,000 after acquiring an additional 112 shares during the period. Ellenbecker Investment Group raised its stake in shares of Chevron by 3.0% during the fourth quarter. Ellenbecker Investment Group now owns 3,870 shares of the oil and gas company’s stock worth $327,000 after purchasing an additional 113 shares during the last quarter. Sowa Financial Group Inc. lifted its holdings in shares of Chevron by 20.3% during the fourth quarter. Sowa Financial Group Inc. now owns 724 shares of the oil and gas company’s stock worth $61,000 after purchasing an additional 122 shares during the period. Aries Wealth Management grew its position in Chevron by 1.0% in the 4th quarter. Aries Wealth Management now owns 11,838 shares of the oil and gas company’s stock valued at $1,078,000 after buying an additional 122 shares during the last quarter. Finally, Forte Capital LLC ADV raised its position in Chevron by 1.7% during the 4th quarter. Forte Capital LLC ADV now owns 7,359 shares of the oil and gas company’s stock worth $621,000 after buying an additional 124 shares during the last quarter. 62.27% of the stock is owned by institutional investors.

Chevron stock opened at $85.20 on Monday. Chevron Co. has a 1 year low of $51.60 and a 1 year high of $112.60. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 1.26. The firm has a 50 day moving average price of $89.26 and a 200 day moving average price of $83.47. The company has a market cap of $159.10 billion, a price-to-earnings ratio of -13.88, a PEG ratio of 5.74 and a beta of 1.33.

Chevron (NYSE:CVX) last released its quarterly earnings data on Thursday, January 28th. The oil and gas company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.09). Chevron had a positive return on equity of 1.75% and a negative net margin of 10.86%. The firm had revenue of $25.25 billion for the quarter, compared to analyst estimates of $25.97 billion. During the same quarter in the previous year, the company earned $1.49 earnings per share. The company’s quarterly revenue was down 30.5% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 0.03 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 10th. Stockholders of record on Wednesday, February 17th will be issued a $1.29 dividend. The ex-dividend date of this dividend is Tuesday, February 16th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 6.06%. Chevron’s dividend payout ratio (DPR) is 82.30%.

In other Chevron news, VP Rhonda J. Morris sold 14,700 shares of the business’s stock in a transaction that occurred on Thursday, January 14th. The shares were sold at an average price of $94.81, for a total transaction of $1,393,707.00. Following the completion of the sale, the vice president now directly owns 8,014 shares in the company, valued at $759,807.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Pierre R. Breber sold 13,000 shares of the stock in a transaction on Wednesday, January 20th. The stock was sold at an average price of $95.00, for a total transaction of $1,235,000.00. Following the completion of the sale, the chief financial officer now directly owns 13,686 shares of the company’s stock, valued at approximately $1,300,170. The disclosure for this sale can be found here. Insiders have sold a total of 159,700 shares of company stock valued at $15,133,067 in the last quarter. Company insiders own 0.28% of the company’s stock.

Several research firms recently issued reports on CVX. Mizuho assumed coverage on shares of Chevron in a report on Tuesday, January 12th. They set a “buy” rating and a $107.00 price target for the company. Tudor Pickering downgraded Chevron from a “buy” rating to a “hold” rating in a research note on Monday, December 7th. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and increased their price objective for the stock from $103.00 to $105.00 in a research report on Thursday, January 14th. Morgan Stanley lowered their price target on shares of Chevron from $114.00 to $113.00 and set an “overweight” rating on the stock in a research note on Monday, January 11th. Finally, Smith Barney Citigroup raised their price objective on shares of Chevron from $69.00 to $90.00 in a research note on Wednesday, December 9th. Nine analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $104.15.

Chevron 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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)



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