Chase Investment Counsel Corp Acquires 102 Shares of Chevron Co. (NYSE:CVX)

Chase Investment Counsel Corp boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,648 shares of the oil and gas company’s stock after buying an additional 102 shares during the quarter. Chase Investment Counsel Corp’s holdings in Chevron were worth $319,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Horan Capital Advisors LLC. lifted its holdings in shares of Chevron by 2.6% in the third quarter. Horan Capital Advisors LLC. now owns 3,311 shares of the oil and gas company’s stock worth $393,000 after buying an additional 85 shares in the last quarter. Halsey Associates Inc. CT lifted its holdings in shares of Chevron by 1.1% in the third quarter. Halsey Associates Inc. CT now owns 7,813 shares of the oil and gas company’s stock worth $927,000 after buying an additional 85 shares in the last quarter. Empirical Finance LLC lifted its holdings in shares of Chevron by 2.1% in the third quarter. Empirical Finance LLC now owns 4,205 shares of the oil and gas company’s stock worth $499,000 after buying an additional 87 shares in the last quarter. Archford Capital Strategies LLC lifted its holdings in shares of Chevron by 0.5% in the third quarter. Archford Capital Strategies LLC now owns 16,784 shares of the oil and gas company’s stock worth $1,991,000 after buying an additional 88 shares in the last quarter. Finally, Shulman DeMeo Asset Management LLC lifted its holdings in shares of Chevron by 0.8% in the third quarter. Shulman DeMeo Asset Management LLC now owns 11,798 shares of the oil and gas company’s stock worth $1,399,000 after buying an additional 90 shares in the last quarter. Institutional investors own 65.51% of the company’s stock.

Shares of CVX opened at $110.08 on Friday. The company’s fifty day moving average is $114.50 and its 200 day moving average is $117.62. Chevron Co. has a fifty-two week low of $105.40 and a fifty-two week high of $127.34. The stock has a market capitalization of $211.13 billion, a PE ratio of 72.90, a P/E/G ratio of 2.63 and a beta of 1.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.93 and a current ratio of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.02. Chevron had a net margin of 2.00% and a return on equity of 8.14%. The company had revenue of $36.35 billion for the quarter, compared to analysts’ expectations of $38.98 billion. During the same quarter in the previous year, the business posted $1.95 earnings per share. Chevron’s quarterly revenue was down 14.2% on a year-over-year basis. As a group, research analysts forecast that Chevron Co. will post 7.07 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 18th will be given a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.19. Chevron’s payout ratio is currently 75.92%.

In related news, VP Rhonda J. Morris sold 7,800 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $119.68, for a total value of $933,504.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael K. Wirth sold 67,500 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $121.07, for a total transaction of $8,172,225.00. Following the completion of the sale, the chief executive officer now owns 33,750 shares in the company, valued at approximately $4,086,112.50. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Several equities analysts have recently commented on the stock. Citigroup downgraded shares of Chevron from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. Berenberg Bank reissued a “hold” rating and issued a $128.00 target price on shares of Chevron in a report on Thursday, December 12th. HSBC reissued a “neutral” rating and issued a $115.00 target price on shares of Chevron in a report on Wednesday. Piper Jaffray Companies assumed coverage on shares of Chevron in a report on Tuesday, November 26th. They issued a “buy” rating and a $143.00 target price on the stock. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and set a $137.00 target price on the stock in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Chevron presently has an average rating of “Hold” and a consensus target price of $136.50.

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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