Chevron Co. (CVX) Shares Bought by Front Barnett Associates LLC

Front Barnett Associates LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 0.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 108,491 shares of the oil and gas company’s stock after purchasing an additional 440 shares during the quarter. Chevron makes up about 2.3% of Front Barnett Associates LLC’s holdings, making the stock its 13th biggest position. Front Barnett Associates LLC’s holdings in Chevron were worth $13,717,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CVX. South Street Advisors LLC grew its position in shares of Chevron by 5.1% during the first quarter. South Street Advisors LLC now owns 8,490 shares of the oil and gas company’s stock worth $968,000 after acquiring an additional 410 shares during the last quarter. Strategic Financial Services Inc grew its position in shares of Chevron by 1.1% during the second quarter. Strategic Financial Services Inc now owns 37,454 shares of the oil and gas company’s stock worth $4,735,000 after acquiring an additional 413 shares during the last quarter. Montgomery Investment Management Inc. grew its position in shares of Chevron by 0.6% during the second quarter. Montgomery Investment Management Inc. now owns 74,541 shares of the oil and gas company’s stock worth $9,425,000 after acquiring an additional 430 shares during the last quarter. Fagan Associates Inc. grew its position in shares of Chevron by 7.1% during the second quarter. Fagan Associates Inc. now owns 6,596 shares of the oil and gas company’s stock worth $834,000 after acquiring an additional 435 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. grew its position in shares of Chevron by 0.9% during the first quarter. Cornercap Investment Counsel Inc. now owns 49,002 shares of the oil and gas company’s stock worth $5,588,000 after acquiring an additional 440 shares during the last quarter. 64.66% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on CVX shares. Goldman Sachs Group upgraded shares of Chevron from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, October 2nd. Royal Bank of Canada set a $150.00 target price on shares of Chevron and gave the stock a “hold” rating in a research report on Thursday, September 20th. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $137.00 target price on the stock in a research report on Monday, October 1st. Bank of America lowered shares of Chevron from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $150.00 to $135.00 in a research report on Thursday, September 6th. Finally, Piper Jaffray Companies restated an “overweight” rating on shares of Chevron in a research report on Tuesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Chevron currently has an average rating of “Buy” and an average price target of $138.13.

In related news, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $119.97, for a total value of $569,857.50. Following the transaction, the insider now directly owns 4,750 shares in the company, valued at approximately $569,857.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.38% of the company’s stock.

NYSE:CVX opened at $119.36 on Friday. Chevron Co. has a 1-year low of $107.54 and a 1-year high of $133.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 1.08. The firm has a market capitalization of $227.83 billion, a P/E ratio of 32.26, a PEG ratio of 2.05 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.05. Chevron had a net margin of 8.79% and a return on equity of 8.24%. The firm had revenue of $43.99 billion for the quarter, compared to analyst estimates of $47.17 billion. During the same period last year, the firm posted $1.03 EPS. Chevron’s quarterly revenue was up 21.5% on a year-over-year basis. Analysts forecast that Chevron Co. will post 8.27 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be given a $1.12 dividend. The ex-dividend date is Thursday, November 15th. This represents a $4.48 dividend on an annualized basis and a yield of 3.75%. Chevron’s dividend payout ratio (DPR) is 121.08%.

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Chevron Profile

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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