Johnson Financial Group Inc. lowered its holdings in Chevron Co. (NYSE:CVX) by 27.7% in the 3rd quarter, Holdings Channel reports. The firm owned 32,133 shares of the oil and gas company’s stock after selling 12,334 shares during the period. Johnson Financial Group Inc.’s holdings in Chevron were worth $3,776,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Korea Investment CORP increased its position in Chevron by 5.1% during the second quarter. Korea Investment CORP now owns 1,476,610 shares of the oil and gas company’s stock valued at $154,055,000 after acquiring an additional 72,173 shares during the last quarter. Numeric Investors LLC increased its position in Chevron by 158.4% during the second quarter. Numeric Investors LLC now owns 52,200 shares of the oil and gas company’s stock valued at $5,446,000 after acquiring an additional 32,000 shares during the last quarter. Palisade Asset Management LLC increased its position in Chevron by 20.5% during the second quarter. Palisade Asset Management LLC now owns 109,154 shares of the oil and gas company’s stock valued at $11,388,000 after acquiring an additional 18,541 shares during the last quarter. Toronto Dominion Bank increased its position in Chevron by 24.7% during the second quarter. Toronto Dominion Bank now owns 660,443 shares of the oil and gas company’s stock valued at $68,894,000 after acquiring an additional 130,990 shares during the last quarter. Finally, Perpetual Ltd increased its position in Chevron by 6.8% during the second quarter. Perpetual Ltd now owns 22,012 shares of the oil and gas company’s stock valued at $2,297,000 after acquiring an additional 1,400 shares during the last quarter. Hedge funds and other institutional investors own 63.72% of the company’s stock.

CVX has been the subject of a number of research reports. Morgan Stanley upped their price objective on Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Citigroup upped their price objective on Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a research report on Monday, October 30th. Zacks Investment Research cut Chevron from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Wolfe Research upgraded Chevron from a “market perform” rating to an “outperform” rating in a research report on Monday, October 16th. Finally, BMO Capital Markets upgraded Chevron from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $120.00 to $140.00 in a research report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Chevron currently has a consensus rating of “Buy” and a consensus price target of $130.30.

Shares of Chevron Co. (NYSE:CVX) opened at $113.98 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. The company has a market capitalization of $215,578.94, a PE ratio of 27.82, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15. Chevron Co. has a 1 year low of $102.55 and a 1 year high of $133.88.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). The company had revenue of $37.62 billion during the quarter, compared to analysts’ expectations of $38.43 billion. Chevron had a return on equity of 5.23% and a net margin of 6.49%. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. sell-side analysts expect that Chevron Co. will post 6.36 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be paid a $1.12 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 3.93%. Chevron’s dividend payout ratio is 89.07%.

In other news, CFO Patricia E. Yarrington sold 116,857 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $115.29, for a total value of $13,472,443.53. Following the completion of the transaction, the chief financial officer now owns 39,506 shares of the company’s stock, valued at $4,554,646.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $119.00, for a total value of $2,766,750.00. Following the completion of the transaction, the insider now directly owns 42,182 shares of the company’s stock, valued at approximately $5,019,658. The disclosure for this sale can be found here. In the last ninety days, insiders sold 264,021 shares of company stock valued at $30,619,037. Corporate insiders own 0.38% of the company’s stock.

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About Chevron

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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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