Chevron Co. (CVX) Position Reduced by KBC Group NV

KBC Group NV trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 23.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 610,015 shares of the oil and gas company’s stock after selling 183,283 shares during the quarter. Chevron comprises about 0.7% of KBC Group NV’s holdings, making the stock its 23rd largest position. KBC Group NV’s holdings in Chevron were worth $71,677,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the stock. Grandfield & Dodd LLC lifted its stake in Chevron by 0.4% during the second quarter. Grandfield & Dodd LLC now owns 92,284 shares of the oil and gas company’s stock worth $9,628,000 after purchasing an additional 380 shares during the last quarter. Exchange Capital Management Inc. lifted its stake in Chevron by 78.7% during the second quarter. Exchange Capital Management Inc. now owns 14,261 shares of the oil and gas company’s stock worth $1,488,000 after purchasing an additional 6,279 shares during the last quarter. Lee Danner & Bass Inc. lifted its stake in shares of Chevron by 0.4% in the 2nd quarter. Lee Danner & Bass Inc. now owns 17,827 shares of the oil and gas company’s stock valued at $1,860,000 after acquiring an additional 73 shares during the last quarter. Telos Capital Management Inc. lifted its stake in shares of Chevron by 9.6% in the 2nd quarter. Telos Capital Management Inc. now owns 25,291 shares of the oil and gas company’s stock valued at $2,639,000 after acquiring an additional 2,208 shares during the last quarter. Finally, Garland Capital Management Inc. lifted its stake in shares of Chevron by 4.7% in the 2nd quarter. Garland Capital Management Inc. now owns 43,120 shares of the oil and gas company’s stock valued at $4,498,000 after acquiring an additional 1,924 shares during the last quarter. Institutional investors and hedge funds own 63.72% of the company’s stock.

In other Chevron news, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the transaction, the insider now owns 42,182 shares in the company, valued at approximately $5,019,658. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Patricia E. Yarrington sold 116,857 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $115.29, for a total value of $13,472,443.53. Following the transaction, the chief financial officer now owns 39,506 shares in the company, valued at approximately $4,554,646.74. The disclosure for this sale can be found here. Insiders have sold a total of 250,878 shares of company stock worth $29,107,461 in the last quarter. Company insiders own 0.38% of the company’s stock.

Chevron Co. (NYSE:CVX) opened at $112.14 on Friday. Chevron Co. has a twelve month low of $102.55 and a twelve month high of $133.88. The stock has a market capitalization of $213,736.55, a PE ratio of 23.12, a P/E/G ratio of 2.21 and a beta of 1.15. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). Chevron had a net margin of 6.49% and a return on equity of 5.23%. The business had revenue of $37.62 billion for the quarter, compared to analysts’ expectations of $38.43 billion. During the same quarter in the prior year, the firm earned $0.22 EPS. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. equities analysts forecast 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 issued a dividend of $1.12 per share. This is an increase from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date is Thursday, February 15th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.00%. Chevron’s dividend payout ratio is 92.37%.

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada raised Chevron from an “underperform” rating to a “sector perform” rating and set a $125.00 target price for the company in a research note on Friday, February 9th. Barclays raised Chevron from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $130.00 to $135.00 in a research note on Tuesday, February 6th. Wells Fargo & Co lowered their target price on Chevron from $125.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Credit Suisse Group lowered their target price on Chevron from $130.00 to $129.00 and set a “neutral” rating for the company in a research note on Monday, February 5th. Finally, Goldman Sachs Group lowered Chevron from a “conviction-buy” rating to a “buy” rating in a research note on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $130.30.

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Chevron 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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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