MJP Associates Inc. ADV Buys 119 Shares of Chevron Co. (NYSE:CVX)

MJP Associates Inc. ADV grew its stake in Chevron Co. (NYSE:CVXGet Rating) by 4.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,034 shares of the oil and gas company’s stock after acquiring an additional 119 shares during the quarter. MJP Associates Inc. ADV’s holdings in Chevron were worth $439,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Chevron by 2.7% during the first quarter. Vanguard Group Inc. now owns 167,767,288 shares of the oil and gas company’s stock valued at $27,317,547,000 after purchasing an additional 4,367,157 shares in the last quarter. Norges Bank bought a new position in shares of Chevron during the fourth quarter valued at $3,111,594,000. Charles Schwab Investment Management Inc. lifted its holdings in Chevron by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock valued at $2,393,138,000 after acquiring an additional 189,762 shares during the period. Invesco Ltd. lifted its holdings in Chevron by 6.8% in the fourth quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock valued at $1,689,870,000 after acquiring an additional 917,773 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Chevron by 17.3% in the first quarter. Dimensional Fund Advisors LP now owns 9,763,275 shares of the oil and gas company’s stock valued at $1,589,915,000 after acquiring an additional 1,437,047 shares during the period. 69.30% of the stock is owned by institutional investors.

Chevron Stock Performance

NYSE CVX opened at $156.45 on Monday. The stock has a market capitalization of $307.39 billion, a PE ratio of 10.44, a P/E/G ratio of 0.60 and a beta of 1.15. The business has a 50 day simple moving average of $154.36 and a two-hundred day simple moving average of $160.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.11. Chevron Co. has a 1-year low of $93.31 and a 1-year high of $182.40.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, beating the consensus estimate of $4.66 by $1.16. The business had revenue of $68.76 billion during the quarter, compared to analysts’ expectations of $57.69 billion. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The firm’s revenue for the quarter was up 82.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.71 EPS. On average, research analysts predict that Chevron Co. will post 18.4 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.63%. The ex-dividend date was Thursday, August 18th. Chevron’s dividend payout ratio is presently 37.89%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wells Fargo & Company increased their target price on Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, August 1st. Bank of America increased their target price on Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a report on Monday, August 1st. Cowen increased their target price on Chevron from $119.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, August 15th. Cowen increased their target price on Chevron from $119.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, August 15th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $172.00 price target on shares of Chevron in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $169.20.

Insider Buying and Selling at Chevron

In other Chevron news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $164.01, for a total transaction of $13,990,053.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $164.01, for a total value of $13,990,053.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Pierre R. Breber sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $158.11, for a total value of $3,557,475.00. Following the completion of the sale, the chief financial officer now directly owns 7 shares of the company’s stock, valued at $1,106.77. The disclosure for this sale can be found here. Insiders sold 141,732 shares of company stock worth $23,024,499 in the last quarter. 0.32% of the stock is owned by corporate insiders.

Chevron Company Profile

(Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals 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 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.

Read More

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVXGet Rating).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.