Bessemer Group Inc. Has $84.70 Million Stake in Chevron Co. (CVX)

Bessemer Group Inc. increased its position in Chevron Co. (NYSE:CVX) by 44.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 720,852 shares of the oil and gas company’s stock after purchasing an additional 223,032 shares during the quarter. Bessemer Group Inc.’s holdings in Chevron were worth $84,701,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Harbour Capital Advisors LLC increased its stake in shares of Chevron by 10,213.3% in the second quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock valued at $54,721,000 after buying an additional 5,653,686 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Chevron by 2.9% in the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after buying an additional 3,920,240 shares in the last quarter. Capital World Investors increased its stake in shares of Chevron by 9.8% in the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after buying an additional 3,182,250 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Chevron by 669.9% in the second quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock valued at $337,050,000 after buying an additional 2,810,928 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Chevron by 1.6% in the second quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after buying an additional 1,975,865 shares in the last quarter. 64.06% of the stock is owned by hedge funds and other institutional investors.

CVX has been the subject of a number of research reports. Jefferies Group reiterated a “buy” rating and issued a $137.00 price objective (up from $113.54) on shares of Chevron in a research report on Monday, October 30th. Goldman Sachs Group lowered Chevron from a “conviction-buy” rating to a “buy” rating in a research report on Monday, February 5th. Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a research report on Friday, November 10th. Citigroup lifted their price objective on Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, HSBC lowered Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $130.30.

Chevron Co. (NYSE CVX) traded up $1.20 during trading hours on Friday, hitting $113.50. The stock had a trading volume of 10,882,835 shares, compared to its average volume of 7,450,000. Chevron Co. has a fifty-two week low of $102.55 and a fifty-two week high of $133.88. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. The company has a market cap of $215,580.00, a PE ratio of 23.45, a PEG ratio of 2.23 and a beta of 1.15.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.54). Chevron had a net margin of 8.57% and a return on equity of 8.46%. The business had revenue of $37.62 billion for the quarter, compared to the consensus estimate of $38.43 billion. During the same quarter last year, the firm earned $0.22 EPS. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. equities analysts anticipate that Chevron Co. will post 6.36 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be paid a $1.12 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $4.48 annualized dividend and a yield of 3.95%. Chevron’s payout ratio is presently 89.26%.

In other Chevron news, CFO Patricia E. Yarrington sold 13,143 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $115.01, for a total value of $1,511,576.43. Following the sale, the chief financial officer now owns 17,981 shares in the company, valued at approximately $2,067,994.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pierre R. Breber sold 23,250 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total value of $2,766,750.00. Following the completion of the sale, the insider now owns 42,182 shares in the company, valued at approximately $5,019,658. The disclosure for this sale can be found here. Insiders sold a total of 287,271 shares of company stock worth $33,335,800 in the last 90 days. Company insiders own 0.38% of the company’s stock.

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Chevron Company 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.

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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