MQS Management LLC Acquires 3,064 Shares of Chevron Corporation $CVX

MQS Management LLC raised its holdings in Chevron Corporation (NYSE:CVX) by 112.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,791 shares of the oil and gas company’s stock after acquiring an additional 3,064 shares during the quarter. Chevron comprises 0.5% of MQS Management LLC’s portfolio, making the stock its 13th largest position. MQS Management LLC’s holdings in Chevron were worth $899,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Chevron in the 2nd quarter worth $2,721,477,000. Bank of New York Mellon Corp lifted its stake in Chevron by 27.9% in the third quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock valued at $3,047,900,000 after buying an additional 4,279,918 shares during the period. Laurel Wealth Advisors LLC lifted its stake in Chevron by 14,194.2% in the second quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock valued at $532,984,000 after buying an additional 3,696,177 shares during the period. Berkshire Hathaway Inc boosted its holdings in Chevron by 2.9% during the second quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock worth $17,478,458,000 after buying an additional 3,454,258 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Chevron by 32.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,125,735 shares of the oil and gas company’s stock valued at $1,417,135,000 after acquiring an additional 2,218,283 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research note on Wednesday, January 21st. Zacks Research upgraded shares of Chevron from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 23rd. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and set a $180.00 price target on the stock. in a research report on Monday, February 2nd. Bank of America lowered their price objective on shares of Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 price objective (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $175.00.

Insider Transactions at Chevron

In other Chevron news, insider R. Hewitt Pate sold 41,134 shares of Chevron stock in a transaction on Friday, January 30th. The shares were sold at an average price of $176.40, for a total value of $7,256,037.60. Following the sale, the insider directly owned 4,169 shares in the company, valued at approximately $735,411.60. The trade was a 90.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Eimear P. Bonner sold 32,100 shares of the stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the transaction, the chief financial officer owned 4,366 shares of the company’s stock, valued at approximately $764,093.66. This represents a 88.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 793,158 shares of company stock worth $127,919,578. 0.20% of the stock is owned by insiders.

Chevron Price Performance

CVX stock opened at $182.39 on Wednesday. The stock has a 50-day moving average price of $160.55 and a two-hundred day moving average price of $156.86. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $182.95. The stock has a market cap of $367.25 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 12.28 and a beta of 0.70. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.44 by $0.08. Chevron had a return on equity of 8.23% and a net margin of 6.51%.The firm had revenue of $45.79 billion for the quarter, compared to analysts’ expectations of $48.18 billion. During the same quarter in the previous year, the business posted $2.06 EPS. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. Equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. This is an increase from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, February 17th. Chevron’s payout ratio is 102.70%.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.