Shares of Chevron Co. (NYSE:CVX) sold by Kovitz Investment Group Partners LLC


Kovitz Investment Group Partners LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX – Get Rating ) by 26.3% during the first quarter, Holdings Channel.com reports. The firm owned 7,154 shares of the oil and gas company’s stock after selling 2,548 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Chevron were worth $1,165,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Secure Asset Management LLC boosted its position in shares of Chevron by 15.7% during the first quarter. Secure Asset Management LLC now owns 4,382 shares of the oil and gas company’s stock valued at $713,000 after acquiring an additional 593 shares in the last quarter. Guinness Atkinson Asset Management Inc boosted its position in shares of Chevron by 26.4% during the first quarter. Guinness Atkinson Asset Management Inc now owns 6,346 shares of the oil and gas company’s stock valued at $1,033,000 after acquiring an additional 1,326 shares in the last quarter. ACT Wealth Management LLC boosted its position in shares of Chevron by 3.0% in the first quarter. ACT Wealth Management LLC now owns 4,781 shares of the oil and gas company’s stock valued at $778,000 after acquiring an additional 140 shares in the last quarter. FSB Premier Wealth Management Inc. boosted its holdings in shares of Chevron by 3.6% in the first quarter. FSB Premier Wealth Management Inc. now owns 2,151 shares of the oil and gas company’s stock valued at $350,000 after buying an additional 75 shares in the last quarter. Finally, Coastal Investment Advisors Inc. boosted its holdings in shares of Chevron by 26.6% in the first quarter. Coastal Investment Advisors Inc. now owns 14,020 shares of the oil and gas company’s stock valued at $2,283,000 after buying an additional 2,947 shares in the last quarter. Hedge funds and other institutional investors own 65.89% of the company’s shares.

Shares of NYSE CVX opened at $142.77 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.43 and a debt-to-equity ratio of 0.20. The stock has a market cap of $280.52 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 0.61 and a beta of 1.14. The stock’s fifty-day simple moving average is $162.68, and its 200-day simple moving average is $152.09. Chevron Co. it has a 52-week low of $92.86 and a 52-week high of $182.40.

Chevron (NYSE:CVX – Get Rating ) last posted its earnings results on Friday, April 29th. The oil and gas company reported $3.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.08). The company had revenue of $54.37 billion during the quarter, compared to analyst estimates of $54.96 billion. Chevron has a return on equity of 14.66% and a net margin of 11.10%. The business’s revenue was up 69.8% compared to the same quarter last year. In the same quarter last year, the firm earned $0.90 earnings per share. As a group, analysts expect Chevron Co. to post 17.89 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 19th were given a dividend of $1.42 per share. The ex-dividend date was Wednesday, May 18th. This represents an annualized dividend of $5.68 and a dividend yield of 3.98%. Chevron’s dividend payout ratio is 53.38%.

In other news, VP Mark A. Nelson sold 117,400 shares of Chevron stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total transaction of $18,721,778.00. Following the transaction, the executive vice president now owns 788 shares in the company, valued at $125,662.36. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available at this link. Also, Director Enrique Hernandez, Jr. sold 5,805 shares of Chevron stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $160.00 for a total value of $928,800.00. Following the transaction, the director now owns 22,978 shares in the company, valued at approximately $3,676,480. Disclosure of this sale can be found here. Insiders have sold 561,726 shares of company stock valued at $94,057,396 in the last quarter. 0.32% of shares are currently owned by corporate insiders.

Several brokerages have recently issued reports on CVX. Barclays boosted their target price on Chevron from $183.00 to $196.00 and gave the stock an “overweight” rating in a report on Tuesday, May 31st. StockNews.com started coverage on Chevron in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Citigroup upped their target price on Chevron from $160.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, May 19th. UBS Group boosted their target price on Chevron from $150.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, April 5th. Finally, Royal Bank of Canada downgraded Chevron from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $160.00 to $165.00 in a research note on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Chevron has an average rating of “Moderate Buy” and a consensus target price of $168.85, based on data from MarketBeat.

Chevron profile (Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemical operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production and transportation of crude oil and natural gas; processing, liquefaction, transportation and regasification related to liquefied natural gas; transportation of crude oil by pipelines; and transportation, storage and marketing of natural gas, and operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)



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