MidFirst Bank Makes New $6.54 Million Investment in Chevron Corporation $CVX

MidFirst Bank purchased a new position in shares of Chevron Corporation (NYSE:CVX) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 42,916 shares of the oil and gas company’s stock, valued at approximately $6,541,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp boosted its holdings in Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc raised its holdings in Chevron by 6.6% during the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after buying an additional 8,091,570 shares in the last quarter. Geode Capital Management LLC raised its holdings in Chevron by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after buying an additional 134,890 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock worth $5,492,377,000 after buying an additional 961,341 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Chevron during the 4th quarter worth about $3,727,586,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CVX shares. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. Weiss Ratings lowered shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Barclays increased their price objective on Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 26th. UBS Group increased their target price on shares of Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.70.

Chevron Price Performance

CVX opened at $173.51 on Friday. The stock has a market capitalization of $345.56 billion, a P/E ratio of 30.07, a price-to-earnings-growth ratio of 0.57 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The company’s 50 day simple moving average is $186.63 and its 200-day simple moving average is $179.01. Chevron Corporation has a one year low of $142.40 and a one year high of $214.71.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $2.18 EPS. Sell-side analysts anticipate that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 4.1%. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

Insider Buying and Selling

In other news, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the transaction, the insider owned 8,638 shares of the company’s stock, valued at $1,842,485.40. This represents a 82.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 615,200 shares of company stock worth $118,022,760. Insiders own 0.56% of the company’s stock.

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.