Stonebridge Financial Planning Group LLC Invests $429,000 in Chevron Co. (NYSE:CVX)

Stonebridge Financial Planning Group LLC bought a new position in shares of Chevron Co. (NYSE:CVX) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 3,562 shares of the oil and gas company’s stock, valued at approximately $429,000.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Chevron by 3.5% during the 2nd quarter. BlackRock Inc. now owns 131,522,440 shares of the oil and gas company’s stock valued at $16,366,651,000 after buying an additional 4,401,622 shares during the last quarter. State Street Corp raised its position in shares of Chevron by 1.5% during the 4th quarter. State Street Corp now owns 114,141,035 shares of the oil and gas company’s stock valued at $13,755,136,000 after acquiring an additional 1,659,702 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Chevron by 0.8% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,887,210 shares of the oil and gas company’s stock valued at $950,488,000 after acquiring an additional 63,999 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Chevron by 0.8% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 7,096,626 shares of the oil and gas company’s stock valued at $841,660,000 after acquiring an additional 58,570 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Chevron by 22.1% during the 3rd quarter. California Public Employees Retirement System now owns 5,482,447 shares of the oil and gas company’s stock valued at $650,218,000 after acquiring an additional 990,819 shares in the last quarter. Institutional investors and hedge funds own 65.20% of the company’s stock.

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

Several research firms recently issued reports on CVX. Citigroup lowered Chevron from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th. Piper Jaffray Companies initiated coverage on Chevron in a research report on Tuesday, November 26th. They set a “buy” rating and a $143.00 price target on the stock. Cowen dropped their target price on Chevron from $134.00 to $127.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and set a $137.00 target price on the stock in a research report on Thursday, January 23rd. Finally, HSBC reaffirmed a “neutral” rating and issued a $115.00 target price on shares of Chevron in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Chevron currently has an average rating of “Hold” and an average price target of $136.50.

NYSE CVX traded down $0.29 during trading hours on Monday, hitting $110.08. The company had a trading volume of 5,148,696 shares, compared to its average volume of 6,744,534. Chevron Co. has a fifty-two week low of $105.40 and a fifty-two week high of $127.34. The company has a quick ratio of 0.93, a current ratio of 1.12 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $114.50 and a 200-day simple moving average of $117.62. The firm has a market cap of $208.15 billion, a P/E ratio of 72.90, a price-to-earnings-growth ratio of 2.60 and a beta of 1.00.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $1.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.02. Chevron had a return on equity of 8.14% and a net margin of 2.00%. The firm had revenue of $36.35 billion for the quarter, compared to analyst estimates of $38.98 billion. During the same period last year, the company earned $1.95 earnings per share. The firm’s revenue for the quarter was down 14.2% on a year-over-year basis. Equities analysts forecast that Chevron Co. will post 7.07 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 18th will be paid a $1.29 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.19. The ex-dividend date is Friday, February 14th. This represents a $5.16 annualized dividend and a dividend yield of 4.69%. Chevron’s dividend payout ratio is presently 82.30%.

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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