Crawford Investment Counsel Inc. Cuts Stake in Chevron Co. (CVX)

Crawford Investment Counsel Inc. cut its position in Chevron Co. (NYSE:CVX) by 12.6% during the first quarter, HoldingsChannel.com reports. The firm owned 580,888 shares of the oil and gas company’s stock after selling 83,373 shares during the period. Chevron makes up approximately 2.1% of Crawford Investment Counsel Inc.’s portfolio, making the stock its 13th largest position. Crawford Investment Counsel Inc.’s holdings in Chevron were worth $66,244,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CVX. BlackRock Inc. grew its holdings in Chevron by 1.9% during the fourth quarter. BlackRock Inc. now owns 128,530,034 shares of the oil and gas company’s stock worth $16,090,676,000 after acquiring an additional 2,356,734 shares during the period. Geode Capital Management LLC grew its holdings in Chevron by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 19,836,151 shares of the oil and gas company’s stock worth $2,478,038,000 after acquiring an additional 655,892 shares during the period. Dimensional Fund Advisors LP grew its holdings in Chevron by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 13,026,526 shares of the oil and gas company’s stock worth $1,485,545,000 after acquiring an additional 549,931 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Chevron by 3.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 8,728,794 shares of the oil and gas company’s stock worth $995,432,000 after acquiring an additional 275,289 shares during the period. Finally, Boston Partners grew its holdings in Chevron by 2.4% during the first quarter. Boston Partners now owns 7,482,304 shares of the oil and gas company’s stock worth $853,282,000 after acquiring an additional 175,360 shares during the period. 64.27% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Chevron from a “hold” rating to a “strong-buy” rating and set a $147.00 price target on the stock in a research report on Wednesday, June 13th. Credit Suisse Group increased their price target on Chevron from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Monday, April 30th. Barclays increased their price target on Chevron from $145.00 to $148.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 11th. Royal Bank of Canada reiterated a “neutral” rating and set a $145.00 price target on shares of Chevron in a research report on Monday, July 2nd. Finally, Goldman Sachs Group reiterated a “buy” rating and set a $141.00 price target on shares of Chevron in a research report on Tuesday, July 31st. Eight research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Chevron currently has an average rating of “Buy” and an average target price of $138.49.

In other news, insider James William Johnson sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $129.44, for a total value of $1,229,680.00. Following the transaction, the insider now owns 9,500 shares in the company, valued at $1,229,680. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 19,000 shares of company stock worth $2,422,690. Company insiders own 0.46% of the company’s stock.

NYSE CVX opened at $117.66 on Friday. The company has a market capitalization of $236.34 billion, a PE ratio of 31.80, a PEG ratio of 2.18 and a beta of 1.10. Chevron Co. has a 1-year low of $105.30 and a 1-year high of $133.88. The company has a current ratio of 1.08, a quick ratio of 0.87 and a debt-to-equity ratio of 0.20.

Chevron (NYSE:CVX) last released its earnings results on Friday, July 27th. The oil and gas company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $2.09 by ($0.31). The firm had revenue of $42.24 billion during the quarter, compared to analysts’ expectations of $46.62 billion. Chevron had a net margin of 7.87% and a return on equity of 6.89%. The business’s revenue was up 22.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 EPS. research analysts predict that Chevron Co. will post 8.1 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 17th will be given a $1.12 dividend. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $4.48 annualized dividend and a dividend yield of 3.81%. Chevron’s dividend payout ratio (DPR) is presently 121.08%.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

Featured Story: Trading Strategy Methods for Individual Investors

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).

Institutional Ownership by Quarter for Chevron (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.

Leave a Reply