Chevron Corporation (CVX) Stake Held by Westchester Capital Management Inc.
Westchester Capital Management Inc. held its position in Chevron Corporation (NYSE:CVX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,031 shares of the oil and gas company’s stock at the end of the 2nd quarter. Chevron Corporation comprises 0.0% of Westchester Capital Management Inc.’s holdings, making the stock its 29th largest holding. Westchester Capital Management Inc.’s holdings in Chevron Corporation were worth $108,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the business. State Street Corp increased its holdings in shares of Chevron Corporation by 1.1% in the first quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock worth $12,752,287,000 after purchasing an additional 1,261,078 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Chevron Corporation by 4.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 8,049,007 shares of the oil and gas company’s stock worth $839,753,000 after acquiring an additional 357,051 shares in the last quarter. Boston Partners grew its position in Chevron Corporation by 17.9% in the second quarter. Boston Partners now owns 7,147,113 shares of the oil and gas company’s stock worth $745,659,000 after acquiring an additional 1,084,757 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Chevron Corporation by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,721,044 shares of the oil and gas company’s stock worth $614,268,000 after acquiring an additional 54,154 shares in the last quarter. Finally, Harbour Capital Advisors LLC grew its position in Chevron Corporation by 10,213.3% in the second quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock worth $54,721,000 after acquiring an additional 5,653,686 shares in the last quarter. 63.03% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on CVX. Piper Jaffray Companies reiterated a “buy” rating on shares of Chevron Corporation in a research report on Thursday, August 3rd. Zacks Investment Research upgraded Chevron Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. BNP Paribas upgraded Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 price target for the company in a research report on Monday, August 7th. TheStreet lowered Chevron Corporation from a “b” rating to a “c+” rating in a research report on Friday, July 28th. Finally, BidaskClub upgraded Chevron Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. Chevron Corporation has a consensus rating of “Buy” and an average target price of $120.63.
In related news, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $120.00, for a total value of $3,060,000.00. Following the transaction, the vice president now directly owns 25,500 shares of the company’s stock, valued at approximately $3,060,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Linnet F. Deily sold 2,312 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total value of $248,262.56. The disclosure for this sale can be found here. Over the last three months, insiders purchased 50,000 shares of company stock worth $6,590 and sold 29,041 shares worth $3,453,285. 0.38% of the stock is owned by corporate insiders.
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Chevron Corporation (NYSE:CVX) opened at $117.23 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. Chevron Corporation has a 12-month low of $102.55 and a 12-month high of $120.89. The stock has a market capitalization of $222,568.64, a price-to-earnings ratio of 32.82, a P/E/G ratio of 3.91 and a beta of 1.22.
Chevron Corporation (NYSE:CVX) last released its earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The firm had revenue of $36.21 billion for the quarter, compared to the consensus estimate of $34.06 billion. During the same period in the prior year, the firm earned $0.68 EPS. The firm’s revenue was up 20.1% on a year-over-year basis. research analysts predict that Chevron Corporation will post 4.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Thursday, November 16th. Chevron Corporation’s payout ratio is 125.95%.
About Chevron Corporation
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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