Carlson Capital L P Decreases Stock Position in Chevron Co. (NYSE:CVX)

Carlson Capital L P cut its stake in shares of Chevron Co. (NYSE:CVXFree Report) by 41.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,593 shares of the oil and gas company’s stock after selling 15,107 shares during the quarter. Carlson Capital L P’s holdings in Chevron were worth $3,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Hollencrest Capital Management raised its stake in shares of Chevron by 2.5% during the second quarter. Hollencrest Capital Management now owns 11,623 shares of the oil and gas company’s stock valued at $1,829,000 after acquiring an additional 287 shares during the last quarter. Angeles Wealth Management LLC raised its position in Chevron by 6.9% during the 2nd quarter. Angeles Wealth Management LLC now owns 5,330 shares of the oil and gas company’s stock valued at $839,000 after purchasing an additional 342 shares during the last quarter. Oxford Financial Group Ltd. lifted its holdings in Chevron by 24.2% in the 2nd quarter. Oxford Financial Group Ltd. now owns 4,946 shares of the oil and gas company’s stock worth $778,000 after buying an additional 963 shares during the period. Joseph Group Capital Management grew its position in shares of Chevron by 9.8% in the 2nd quarter. Joseph Group Capital Management now owns 8,214 shares of the oil and gas company’s stock worth $1,292,000 after buying an additional 733 shares during the last quarter. Finally, Personal CFO Solutions LLC increased its stake in shares of Chevron by 2.4% during the second quarter. Personal CFO Solutions LLC now owns 14,431 shares of the oil and gas company’s stock valued at $2,271,000 after buying an additional 339 shares during the period. 68.87% of the stock is currently owned by institutional investors.

Chevron Stock Up 1.9 %

Shares of NYSE:CVX traded up $2.69 during trading on Friday, reaching $144.46. 11,077,904 shares of the stock traded hands, compared to its average volume of 12,759,151. Chevron Co. has a 52-week low of $140.74 and a 52-week high of $187.81. The stock has a market cap of $272.70 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 0.73 and a beta of 1.16. The stock has a 50-day moving average of $158.68 and a two-hundred day moving average of $158.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.97 and a current ratio of 1.25.

Chevron (NYSE:CVXGet Free Report) last issued its earnings results on Friday, October 27th. The oil and gas company reported $3.05 EPS for the quarter, missing the consensus estimate of $3.70 by ($0.65). Chevron had a net margin of 12.11% and a return on equity of 16.15%. The business had revenue of $54.08 billion for the quarter, compared to analysts’ expectations of $51.41 billion. During the same quarter in the prior year, the business posted $5.56 earnings per share. The business’s revenue for the quarter was down 18.9% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Co. will post 13.59 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $6.04 annualized dividend and a yield of 4.18%. Chevron’s payout ratio is 44.84%.

Analysts Set New Price Targets

Several analysts recently weighed in on CVX shares. Mizuho cut their price target on shares of Chevron from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Tuesday, November 14th. UBS Group raised their price objective on shares of Chevron from $209.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. The Goldman Sachs Group upgraded Chevron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $166.00 to $187.00 in a report on Monday, July 31st. StockNews.com initiated coverage on Chevron in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Sanford C. Bernstein raised Chevron from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $184.00 to $182.00 in a research note on Thursday, November 2nd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $187.89.

View Our Latest Stock Report on CVX

Chevron Company Profile

(Free Report)

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

Further Reading

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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