Cascade Investment Advisors Inc. Trims Holdings in Chevron Co. (NYSE:CVX)

Cascade Investment Advisors Inc. decreased its stake in shares of Chevron Co. (NYSE:CVXGet Rating) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,626 shares of the oil and gas company’s stock after selling 225 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Chevron were worth $1,364,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in Chevron by 317.1% in the third quarter. Renaissance Technologies LLC now owns 2,523,725 shares of the oil and gas company’s stock valued at $256,032,000 after purchasing an additional 1,918,630 shares during the period. Invesco Ltd. raised its position in Chevron by 16.0% in the third quarter. Invesco Ltd. now owns 13,482,487 shares of the oil and gas company’s stock valued at $1,367,797,000 after purchasing an additional 1,859,425 shares during the period. Neuberger Berman Group LLC raised its position in Chevron by 137.2% in the third quarter. Neuberger Berman Group LLC now owns 2,658,662 shares of the oil and gas company’s stock valued at $267,659,000 after purchasing an additional 1,537,886 shares during the period. Morgan Stanley raised its position in Chevron by 6.9% in the second quarter. Morgan Stanley now owns 23,302,417 shares of the oil and gas company’s stock valued at $2,440,693,000 after purchasing an additional 1,513,296 shares during the period. Finally, Geode Capital Management LLC raised its position in Chevron by 3.4% in the third quarter. Geode Capital Management LLC now owns 31,582,362 shares of the oil and gas company’s stock valued at $3,196,349,000 after purchasing an additional 1,037,882 shares during the period. Hedge funds and other institutional investors own 65.89% of the company’s stock.

Shares of NYSE:CVX traded up $3.16 on Friday, hitting $167.87. 9,229,903 shares of the company’s stock were exchanged, compared to its average volume of 10,133,212. The firm’s 50-day moving average is $165.05 and its 200 day moving average is $138.72. The company has a market capitalization of $329.83 billion, a PE ratio of 15.78, a P/E/G ratio of 0.82 and a beta of 1.09. Chevron Co. has a 1-year low of $92.86 and a 1-year high of $174.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43.

Chevron (NYSE:CVXGet Rating) last announced its earnings results on Friday, April 29th. The oil and gas company reported $3.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.08). The firm had revenue of $54.37 billion during the quarter, compared to analyst estimates of $54.96 billion. Chevron had a net margin of 11.10% and a return on equity of 14.66%. The firm’s revenue for the quarter was up 69.8% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. On average, analysts anticipate that Chevron Co. will post 17.15 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Thursday, May 19th will be given a $1.42 dividend. The ex-dividend date of this dividend is Wednesday, May 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.38%. Chevron’s dividend payout ratio (DPR) is presently 53.38%.

CVX has been the topic of a number of research analyst reports. BMO Capital Markets lifted their target price on Chevron from $140.00 to $170.00 in a research report on Wednesday, March 2nd. UBS Group boosted their price objective on Chevron from $150.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, April 5th. Bank of America boosted their price objective on Chevron from $154.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, February 15th. The Goldman Sachs Group boosted their price objective on Chevron from $154.00 to $176.00 and gave the company a “neutral” rating in a report on Tuesday, March 15th. Finally, Zacks Investment Research downgraded Chevron from a “buy” rating to a “hold” rating and set a $189.00 price objective on the stock. in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $165.43.

In other Chevron news, CEO Michael K. Wirth sold 90,000 shares of the company’s stock in a transaction that occurred on Monday, February 14th. The stock was sold at an average price of $136.81, for a total transaction of $12,312,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Pierre R. Breber sold 18,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $132.90, for a total value of $2,458,650.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 452,115 shares of company stock valued at $69,708,842. Insiders own 0.32% of the company’s stock.

Chevron Company Profile (Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation 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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