Chevron Co. (NYSE:CVX) Shares Purchased by Cascade Investment Group Inc.

Cascade Investment Group Inc. boosted its stake in shares of Chevron Co. (NYSE:CVX) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,353 shares of the oil and gas company’s stock after purchasing an additional 371 shares during the quarter. Chevron accounts for 1.5% of Cascade Investment Group Inc.’s investment portfolio, making the stock its 15th largest position. Cascade Investment Group Inc.’s holdings in Chevron were worth $2,079,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp grew its holdings in shares of Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after buying an additional 3,203,899 shares during the period. Fisher Asset Management LLC grew its position in Chevron by 3.6% in the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after acquiring an additional 672,244 shares during the period. Franklin Resources Inc. raised its position in Chevron by 3.4% in the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock valued at $2,610,645,000 after purchasing an additional 573,218 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Chevron by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after purchasing an additional 501,969 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 1.4 %

CVX opened at $161.54 on Monday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market capitalization of $290.30 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The business’s 50-day simple moving average is $153.93 and its 200-day simple moving average is $151.05.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.05 earnings per share. Analysts anticipate that Chevron Co. will post 10.39 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analyst Weigh In

A number of research firms have commented on CVX. Raymond James upped their target price on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday. Wells Fargo & Company lifted their target price on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Bank of America initiated coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Barclays lifted their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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 of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.