Chevron Co. (CVX) Position Raised by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. boosted its position in shares of Chevron Co. (NYSE:CVX) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,049 shares of the oil and gas company’s stock after purchasing an additional 5,889 shares during the period. Oppenheimer & Co. Inc.’s holdings in Chevron were worth $17,396,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. Shine Investment Advisory Services Inc. acquired a new position in Chevron during the 2nd quarter worth $106,000. Winfield Associates Inc. grew its holdings in Chevron by 5.1% during the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after acquiring an additional 63 shares in the last quarter. Acrospire Investment Management LLC grew its holdings in Chevron by 133.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after acquiring an additional 800 shares in the last quarter. Accurate Investment Solutions Inc. grew its holdings in Chevron by 59.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after acquiring an additional 502 shares in the last quarter. Finally, Ffcm LLC grew its holdings in Chevron by 121.1% during the 2nd quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock worth $160,000 after acquiring an additional 822 shares in the last quarter. 64.06% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the stock. Jefferies Group restated a “buy” rating and issued a $137.00 price target (up from $113.54) on shares of Chevron in a research report on Monday, October 30th. Goldman Sachs Group downgraded shares of Chevron from a “conviction-buy” rating to a “buy” rating in a research report on Monday. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $131.00 price target on the stock in a research report on Friday, November 10th. Citigroup raised their price target on shares of Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $129.84.
Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.54). The company had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. Chevron had a net margin of 6.49% and a return on equity of 5.23%. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 EPS. equities research analysts forecast that Chevron Co. will post 6.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be paid a dividend of $1.12 per share. This is a boost from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $4.48 annualized dividend and a yield of 3.89%. Chevron’s dividend payout ratio (DPR) is presently 89.07%.
In other Chevron news, CFO Patricia E. Yarrington sold 13,143 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the transaction, the chief financial officer now owns 17,981 shares of the company’s stock, valued at approximately $2,067,994.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Pierre R. Breber sold 23,250 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the transaction, the insider now directly owns 42,182 shares in the company, valued at approximately $5,019,658. The disclosure for this sale can be found here. In the last three months, insiders have sold 287,271 shares of company stock worth $33,335,800. 0.38% of the stock is owned by corporate insiders.
TRADEMARK VIOLATION WARNING: “Chevron Co. (CVX) Position Raised by Oppenheimer & Co. Inc.” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this report on another publication, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this report can be read at https://www.thecerbatgem.com/2018/02/08/chevron-co-cvx-position-raised-by-oppenheimer-co-inc.html.
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.
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).
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.