Martingale Asset Management L P purchased a new stake in Chevron Co. (NYSE:CVX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,586 shares of the oil and gas company’s stock, valued at approximately $2,097,000.

A number of other institutional investors also recently made changes to their positions in the business. South Street Advisors LLC lifted its holdings in shares of Chevron by 5.1% during the first quarter. South Street Advisors LLC now owns 8,490 shares of the oil and gas company’s stock worth $968,000 after purchasing an additional 410 shares during the period. Private Capital Group LLC lifted its holdings in shares of Chevron by 4.6% during the second quarter. Private Capital Group LLC now owns 9,281 shares of the oil and gas company’s stock worth $1,173,000 after purchasing an additional 412 shares during the period. Strategic Financial Services Inc lifted its holdings in shares of Chevron by 1.1% during the second quarter. Strategic Financial Services Inc now owns 37,454 shares of the oil and gas company’s stock worth $4,735,000 after purchasing an additional 413 shares during the period. Montgomery Investment Management Inc. lifted its holdings in shares of Chevron by 0.6% during the second quarter. Montgomery Investment Management Inc. now owns 74,541 shares of the oil and gas company’s stock worth $9,425,000 after purchasing an additional 430 shares during the period. Finally, Fagan Associates Inc. lifted its holdings in shares of Chevron by 7.1% during the second quarter. Fagan Associates Inc. now owns 6,596 shares of the oil and gas company’s stock worth $834,000 after purchasing an additional 435 shares during the period. Institutional investors own 64.66% of the company’s stock.

In other Chevron news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction on Thursday, October 11th. The stock was sold at an average price of $119.97, for a total value of $569,857.50. Following the completion of the sale, the insider now owns 4,750 shares of the company’s stock, valued at $569,857.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.

CVX has been the subject of several recent research reports. Wells Fargo & Co decreased their price target on Chevron from $160.00 to $158.00 and set an “outperform” rating for the company in a report on Monday, November 5th. ValuEngine downgraded Chevron from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $137.00 price target for the company in a report on Monday, October 1st. Redburn Partners downgraded Chevron from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $130.00 to $115.00 in a report on Wednesday, October 3rd. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Chevron in a report on Tuesday, October 23rd. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Chevron has a consensus rating of “Buy” and an average target price of $138.13.

Chevron stock opened at $119.51 on Friday. Chevron Co. has a one year low of $107.54 and a one year high of $133.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 0.87. The firm has a market capitalization of $228.71 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 2.05 and a beta of 1.12.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 2nd. The oil and gas company reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.05. Chevron had a return on equity of 8.24% and a net margin of 8.79%. The company had revenue of $43.99 billion during the quarter, compared to the consensus estimate of $47.17 billion. During the same quarter last year, the company earned $1.03 earnings per share. Chevron’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, analysts predict that Chevron Co. will post 8.31 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, November 15th. Chevron’s dividend payout ratio (DPR) is currently 121.08%.

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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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