Pegasus Partners Ltd. lessened its position in Chevron Co. (NYSE:CVX) by 21.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,140 shares of the oil and gas company’s stock after selling 3,765 shares during the period. Pegasus Partners Ltd.’s holdings in Chevron were worth $1,538,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors grew its position in Chevron by 157.4% in the 3rd quarter. Capital International Investors now owns 23,757,783 shares of the oil and gas company’s stock valued at $2,905,102,000 after buying an additional 14,528,219 shares in the last quarter. Renaissance Technologies LLC grew its position in Chevron by 320.3% in the 3rd quarter. Renaissance Technologies LLC now owns 2,855,084 shares of the oil and gas company’s stock valued at $349,120,000 after buying an additional 2,175,800 shares in the last quarter. Vanguard Group Inc grew its position in Chevron by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 149,871,580 shares of the oil and gas company’s stock valued at $18,326,297,000 after buying an additional 1,897,503 shares in the last quarter. Vanguard Group Inc. grew its position in Chevron by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 149,871,580 shares of the oil and gas company’s stock valued at $18,326,297,000 after buying an additional 1,897,503 shares in the last quarter. Finally, Royal London Asset Management Ltd. bought a new position in Chevron in the 4th quarter valued at about $88,758,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

NYSE:CVX opened at $120.57 on Thursday. Chevron Co. has a twelve month low of $100.22 and a twelve month high of $128.79. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 0.90. The stock has a market cap of $231.12 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 2.58 and a beta of 1.00.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.13. Chevron had a net margin of 8.45% and a return on equity of 9.07%. The company had revenue of $35.20 billion during the quarter, compared to analyst estimates of $38.42 billion. During the same quarter last year, the firm posted $1.90 EPS. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. Equities research analysts expect that Chevron Co. will post 7.52 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio is presently 57.70%.

In other Chevron news, Director Enrique Hernandez, Jr. sold 4,200 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $122.13, for a total transaction of $512,946.00. Following the completion of the sale, the director now directly owns 15,689 shares of the company’s stock, valued at $1,916,097.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James William Johnson sold 4,750 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $125.60, for a total transaction of $596,600.00. Following the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at $596,600. The disclosure for this sale can be found here. Insiders have sold 13,700 shares of company stock valued at $1,702,536 over the last ninety days. Insiders own 0.31% of the company’s stock.

A number of brokerages recently issued reports on CVX. Morgan Stanley decreased their target price on shares of Chevron from $150.00 to $149.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Citigroup began coverage on shares of Chevron in a research report on Monday, May 13th. They issued a “buy” rating and a $135.00 target price for the company. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Friday, April 12th. Credit Suisse Group reiterated a “buy” rating and issued a $130.00 target price on shares of Chevron in a research report on Wednesday, January 23rd. Finally, Zacks Investment Research lowered shares of Chevron from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $135.42.

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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.

See Also: Convertible Shares

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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