Ascent Group LLC Has $9.10 Million Stake in Chevron Corporation $CVX

Ascent Group LLC boosted its position in shares of Chevron Corporation (NYSE:CVX) by 47.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,582 shares of the oil and gas company’s stock after purchasing an additional 18,813 shares during the period. Ascent Group LLC’s holdings in Chevron were worth $9,097,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Berkshire Hathaway Inc lifted its stake in Chevron by 2.9% in the 2nd quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock worth $17,478,458,000 after acquiring an additional 3,454,258 shares in the last quarter. Kingstone Capital Partners Texas LLC lifted its position in shares of Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 4.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock worth $4,979,255,000 after purchasing an additional 1,342,723 shares during the period. Fisher Asset Management LLC grew its position in Chevron by 1.9% during the second quarter. Fisher Asset Management LLC now owns 20,826,805 shares of the oil and gas company’s stock valued at $2,982,190,000 after purchasing an additional 378,936 shares in the last quarter. Finally, Norges Bank acquired a new position in Chevron in the 2nd quarter valued at approximately $2,721,477,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, Director John B. Hess sold 275,000 shares of Chevron stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the transaction, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. The trade was a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CVX. Raymond James Financial restated an “outperform” rating and set a $160.00 price target (down from $170.00) on shares of Chevron in a report on Friday, October 17th. Scotiabank boosted their target price on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Mizuho raised their price target on Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. HSBC set a $169.00 price target on Chevron and gave the company a “buy” rating in a report on Monday, December 1st. Finally, Zacks Research raised shares of Chevron from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Hold” and an average price target of $166.00.

Chevron Stock Up 0.9%

Shares of CVX stock opened at $152.31 on Wednesday. The stock’s 50 day simple moving average is $152.01 and its 200 day simple moving average is $152.97. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. The company has a market capitalization of $306.69 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 9.06 and a beta of 0.68.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The company had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same quarter last year, the firm posted $2.48 earnings per share. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.