HPM Partners LLC Has $4.18 Million Stake in Chevron Co. (CVX)
HPM Partners LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 6.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 33,035 shares of the oil and gas company’s stock after acquiring an additional 2,087 shares during the period. HPM Partners LLC’s holdings in Chevron were worth $4,177,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Parsons Capital Management Inc. RI lifted its stake in Chevron by 8.6% during the 1st quarter. Parsons Capital Management Inc. RI now owns 95,309 shares of the oil and gas company’s stock worth $10,869,000 after acquiring an additional 7,584 shares in the last quarter. Gifford Fong Associates acquired a new stake in Chevron in the 1st quarter valued at about $2,532,000. Weil Company Inc. acquired a new stake in Chevron in the 1st quarter valued at about $304,000. Godsey & Gibb Associates raised its position in Chevron by 1.0% in the 1st quarter. Godsey & Gibb Associates now owns 109,737 shares of the oil and gas company’s stock valued at $12,514,000 after purchasing an additional 1,040 shares in the last quarter. Finally, Elite Wealth Management Inc. raised its position in Chevron by 28.3% in the 1st quarter. Elite Wealth Management Inc. now owns 3,176 shares of the oil and gas company’s stock valued at $362,000 after purchasing an additional 700 shares in the last quarter. 64.67% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE CVX opened at $115.91 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19. Chevron Co. has a fifty-two week low of $107.54 and a fifty-two week high of $133.88. The stock has a market cap of $224.02 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 2.03 and a beta of 1.13.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Thursday, November 15th. Chevron’s dividend payout ratio (DPR) is presently 121.08%.
In other news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $116.00, for a total transaction of $551,000.00. Following the sale, the insider now owns 4,750 shares of the company’s stock, valued at approximately $551,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 23,750 shares of company stock worth $2,821,833 in the last three months. Corporate insiders own 0.38% of the company’s stock.
CVX has been the topic of a number of analyst reports. HSBC raised Chevron from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Chevron in a research report on Tuesday, October 23rd. Goldman Sachs Group raised Chevron from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, October 2nd. Wells Fargo & Co reduced their price target on Chevron from $160.00 to $158.00 and set an “outperform” rating on the stock in a research report on Monday, November 5th. Finally, Redburn Partners lowered Chevron from a “buy” rating to a “neutral” rating and reduced their price target for the company from $130.00 to $115.00 in a research report on Wednesday, October 3rd. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Chevron has a consensus rating of “Buy” and a consensus price target of $139.13.
Chevron Company 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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