Sequent Asset Management LLC Buys New Holdings in Chevron Co. (CVX)

Sequent Asset Management LLC bought a new position in shares of Chevron Co. (NYSE:CVX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,675 shares of the oil and gas company’s stock, valued at approximately $212,000.

Several other hedge funds also recently made changes to their positions in CVX. Reilly Herbert Faulkner III boosted its holdings in Chevron by 4.5% in the 1st quarter. Reilly Herbert Faulkner III now owns 30,697 shares of the oil and gas company’s stock valued at $3,501,000 after purchasing an additional 1,334 shares during the period. Fiera Capital Corp lifted its holdings in shares of Chevron by 1.6% during the 1st quarter. Fiera Capital Corp now owns 298,283 shares of the oil and gas company’s stock worth $34,016,000 after acquiring an additional 4,800 shares during the period. Mycio Wealth Partners LLC lifted its holdings in shares of Chevron by 16.8% during the 2nd quarter. Mycio Wealth Partners LLC now owns 9,795 shares of the oil and gas company’s stock worth $1,238,000 after acquiring an additional 1,412 shares during the period. AMG National Trust Bank lifted its holdings in shares of Chevron by 19.6% during the 2nd quarter. AMG National Trust Bank now owns 6,354 shares of the oil and gas company’s stock worth $803,000 after acquiring an additional 1,041 shares during the period. Finally, North Star Investment Management Corp. lifted its holdings in shares of Chevron by 12.6% during the 2nd quarter. North Star Investment Management Corp. now owns 21,054 shares of the oil and gas company’s stock worth $2,662,000 after acquiring an additional 2,358 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

CVX stock opened at $125.33 on Monday. The company has a market cap of $234.31 billion, a P/E ratio of 33.87, a P/E/G ratio of 2.14 and a beta of 1.07. Chevron Co. has a 1 year low of $108.02 and a 1 year high of $133.88. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 0.20.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 27th. The oil and gas company reported $1.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.09 by ($0.31). The company had revenue of $42.24 billion for the quarter, compared to analyst estimates of $46.62 billion. Chevron had a return on equity of 6.89% and a net margin of 7.87%. Chevron’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 earnings per share. As a group, research analysts expect that Chevron Co. will post 8.17 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Friday, August 17th were given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Thursday, August 16th. Chevron’s dividend payout ratio is 121.08%.

In related news, insider James William Johnson sold 4,750 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $116.00, for a total transaction of $551,000.00. Following the completion of the transaction, the insider now directly owns 4,750 shares in the company, valued at approximately $551,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by corporate insiders.

CVX has been the subject of a number of recent analyst reports. Goldman Sachs Group reaffirmed a “buy” rating and set a $141.00 price target on shares of Chevron in a report on Tuesday, July 31st. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating in a report on Tuesday, September 11th. Zacks Investment Research downgraded shares of Chevron from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. ValuEngine downgraded shares of Chevron from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Royal Bank of Canada reaffirmed a “neutral” rating and set a $145.00 price target on shares of Chevron in a report on Monday, July 2nd. Nine equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $136.83.

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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