Adviser Investments LLC decreased its stake in Chevron Corporation (NYSE:CVX) by 61.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,043 shares of the oil and gas company’s stock after selling 16,001 shares during the quarter. Adviser Investments LLC’s holdings in Chevron were worth $1,180,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Swedbank raised its position in shares of Chevron by 1.8% during the third quarter. Swedbank now owns 1,064,300 shares of the oil and gas company’s stock worth $125,055,000 after acquiring an additional 19,024 shares during the last quarter. BB&T Corp raised its position in shares of Chevron by 1.4% during the third quarter. BB&T Corp now owns 215,321 shares of the oil and gas company’s stock worth $25,301,000 after acquiring an additional 3,050 shares during the last quarter. Bartlett & Co. LLC raised its position in shares of Chevron by 1.2% during the third quarter. Bartlett & Co. LLC now owns 372,965 shares of the oil and gas company’s stock worth $43,823,000 after acquiring an additional 4,246 shares during the last quarter. CAPROCK Group Inc. raised its position in shares of Chevron by 5.4% during the third quarter. CAPROCK Group Inc. now owns 15,222 shares of the oil and gas company’s stock worth $1,789,000 after acquiring an additional 782 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Chevron by 0.4% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 134,610 shares of the oil and gas company’s stock worth $15,817,000 after acquiring an additional 583 shares during the last quarter. 63.80% of the stock is currently owned by institutional investors and hedge funds.

Chevron Corporation (CVX) opened at $124.98 on Tuesday. Chevron Corporation has a 52 week low of $102.55 and a 52 week high of $125.65. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $237,383.75, a PE ratio of 36.44, a price-to-earnings-growth ratio of 4.12 and a beta of 1.21.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The firm had revenue of $36.21 billion during the quarter, compared to analysts’ expectations of $34.06 billion. During the same period in the previous year, the firm earned $0.68 earnings per share. The company’s revenue was up 20.1% on a year-over-year basis. equities research analysts predict that Chevron Corporation will post 4.33 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 17th were given a dividend of $1.08 per share. The ex-dividend date was Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.46%. Chevron’s dividend payout ratio is currently 125.95%.

A number of equities research analysts have recently weighed in on the company. Scotiabank restated a “buy” rating and set a $130.00 target price on shares of Chevron in a research report on Friday. Jefferies Group restated a “buy” rating and set a $140.00 target price on shares of Chevron in a research report on Wednesday, December 20th. Royal Bank of Canada set a $110.00 target price on Chevron and gave the stock a “sell” rating in a research report on Wednesday, December 20th. Cowen reiterated an “outperform” rating and issued a $160.00 price objective (up previously from $122.00) on shares of Chevron in a report on Thursday, December 21st. Finally, Credit Suisse Group began coverage on Chevron in a report on Monday, December 11th. They issued a “neutral” rating and a $123.00 price objective for the company. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Chevron presently has an average rating of “Hold” and a consensus target price of $124.22.

In other news, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the completion of the transaction, the vice president now directly owns 25,500 shares of the company’s stock, valued at $3,060,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total value of $145,022.00. Following the transaction, the insider now directly owns 1,229 shares of the company’s stock, valued at $145,022. The disclosure for this sale can be found here. Insiders have sold 314,000 shares of company stock valued at $36,540,822 over the last ninety days. 0.38% of the stock is owned by insiders.

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Chevron Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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