Thompson Investment Management Inc. Grows Position in Chevron Co. (NYSE:CVX)

Thompson Investment Management Inc. lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 0.9% in the third quarter, HoldingsChannel.com reports. The firm owned 36,843 shares of the oil and gas company’s stock after acquiring an additional 314 shares during the quarter. Thompson Investment Management Inc.’s holdings in Chevron were worth $4,370,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Murphy Middleton Hinkle & Parker Inc. lifted its stake in Chevron by 0.6% during the 2nd quarter. Murphy Middleton Hinkle & Parker Inc. now owns 14,149 shares of the oil and gas company’s stock worth $1,761,000 after acquiring an additional 84 shares in the last quarter. Arlington Financial Advisors LLC lifted its stake in Chevron by 0.4% during the 2nd quarter. Arlington Financial Advisors LLC now owns 20,221 shares of the oil and gas company’s stock worth $2,516,000 after acquiring an additional 85 shares in the last quarter. Horan Capital Advisors LLC. lifted its stake in Chevron by 2.6% during the 3rd quarter. Horan Capital Advisors LLC. now owns 3,311 shares of the oil and gas company’s stock worth $393,000 after acquiring an additional 85 shares in the last quarter. Landsberg Bennett & Dubbaneh LLC lifted its stake in Chevron by 1.7% during the 2nd quarter. Landsberg Bennett & Dubbaneh LLC now owns 5,051 shares of the oil and gas company’s stock worth $631,000 after acquiring an additional 86 shares in the last quarter. Finally, JNBA Financial Advisors lifted its stake in Chevron by 1.6% during the 2nd quarter. JNBA Financial Advisors now owns 5,604 shares of the oil and gas company’s stock worth $697,000 after acquiring an additional 86 shares in the last quarter. Institutional investors and hedge funds own 65.68% of the company’s stock.

CVX has been the topic of several research reports. Morgan Stanley decreased their target price on Chevron from $144.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday. JPMorgan Chase & Co. reduced their price target on Chevron from $142.00 to $139.00 and set an “overweight” rating on the stock in a research report on Monday. Cowen reduced their price target on Chevron from $140.00 to $134.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Barclays began coverage on Chevron in a research report on Monday, August 19th. They issued an “overweight” rating and a $145.00 price target on the stock. Finally, ValuEngine raised Chevron from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $135.88.

Shares of NYSE CVX traded down $0.96 during midday trading on Friday, hitting $120.93. 4,223,607 shares of the company’s stock were exchanged, compared to its average volume of 6,442,372. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.15 and a quick ratio of 0.91. Chevron Co. has a twelve month low of $100.22 and a twelve month high of $127.34. The company has a market cap of $231.49 billion, a PE ratio of 14.66, a P/E/G ratio of 3.25 and a beta of 0.99. The firm’s fifty day simple moving average is $117.71 and its 200-day simple moving average is $119.95.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.11). The firm had revenue of $36.12 billion for the quarter, compared to analysts’ expectations of $37.69 billion. Chevron had a return on equity of 8.89% and a net margin of 8.70%. The company’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 EPS. Equities analysts anticipate that Chevron Co. will post 6.25 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.76 dividend on an annualized basis and a yield of 3.94%. Chevron’s dividend payout ratio is presently 57.70%.

In related news, CEO Michael K. Wirth sold 33,750 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $125.00, for a total transaction of $4,218,750.00. Following the transaction, the chief executive officer now owns 33,750 shares in the company, valued at approximately $4,218,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Inchausti sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $119.89, for a total value of $1,798,350.00. Following the transaction, the insider now owns 15,000 shares in the company, valued at approximately $1,798,350. The disclosure for this sale can be found here. Insiders have sold a total of 91,750 shares of company stock worth $11,216,850 in the last 90 days. 0.31% of the stock is currently owned by company insiders.

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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