Biechele Royce Advisors Sells 185 Shares of Chevron Co. (NYSE:CVX)

Biechele Royce Advisors lowered its holdings in Chevron Co. (NYSE:CVX) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,268 shares of the oil and gas company’s stock after selling 185 shares during the quarter. Biechele Royce Advisors’ holdings in Chevron were worth $381,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its position in Chevron by 4.9% during the 1st quarter. BlackRock Inc. now owns 133,388,637 shares of the oil and gas company’s stock valued at $9,665,343,000 after acquiring an additional 6,208,177 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Chevron by 57.5% during the 1st quarter. Franklin Resources Inc. now owns 13,548,338 shares of the oil and gas company’s stock worth $981,712,000 after purchasing an additional 4,944,811 shares during the last quarter. Capital International Investors boosted its position in Chevron by 12.9% during the first quarter. Capital International Investors now owns 36,799,529 shares of the oil and gas company’s stock valued at $2,666,493,000 after purchasing an additional 4,218,942 shares in the last quarter. State Street Corp grew its stake in Chevron by 2.6% in the first quarter. State Street Corp now owns 117,055,351 shares of the oil and gas company’s stock valued at $8,481,831,000 after purchasing an additional 2,914,316 shares during the last quarter. Finally, Eaton Vance Management raised its holdings in Chevron by 114.2% in the first quarter. Eaton Vance Management now owns 3,558,007 shares of the oil and gas company’s stock worth $259,115,000 after purchasing an additional 1,896,930 shares in the last quarter. 64.60% of the stock is owned by hedge funds and other institutional investors.

CVX traded down $2.33 during midday trading on Friday, hitting $83.94. 19,120,651 shares of the company were exchanged, compared to its average volume of 7,507,398. The company’s 50 day simple moving average is $88.84 and its 200 day simple moving average is $92.49. The firm has a market capitalization of $156.71 billion, a price-to-earnings ratio of 40.95, a price-to-earnings-growth ratio of 21.46 and a beta of 1.29. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 0.16. Chevron Co. has a 1-year low of $51.60 and a 1-year high of $125.27.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($1.59) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.93) by ($0.66). The company had revenue of $13.95 billion during the quarter, compared to analyst estimates of $21.71 billion. Chevron had a net margin of 2.71% and a return on equity of 8.28%. The business’s quarterly revenue was down 64.1% compared to the same quarter last year. During the same period last year, the firm earned $1.77 EPS. On average, equities analysts anticipate that Chevron Co. will post 0.8 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a $1.29 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.16 annualized dividend and a yield of 6.15%. Chevron’s dividend payout ratio is presently 82.30%.

A number of research analysts have recently issued reports on CVX shares. Wells Fargo & Co lifted their price objective on shares of Chevron from $107.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. raised their target price on shares of Chevron from $103.00 to $109.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. SunTrust Banks started coverage on Chevron in a report on Thursday, July 23rd. They set a “buy” rating and a $120.00 price objective for the company. Bank of America downgraded Chevron from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 9th. Finally, Zacks Investment Research raised Chevron from a “hold” rating to a “strong-buy” rating and set a $105.00 target price on the stock in a research report on Wednesday, July 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $111.25.

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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