Chevron Co. (NYSE:CVX) Shares Acquired by Magnus Financial Group LLC

Magnus Financial Group LLC increased its holdings in shares of Chevron Co. (NYSE:CVXGet Rating) by 21.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,973 shares of the oil and gas company’s stock after buying an additional 1,957 shares during the quarter. Magnus Financial Group LLC’s holdings in Chevron were worth $1,288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CVX. Renaissance Technologies LLC lifted its position in shares of Chevron by 317.1% in the third quarter. Renaissance Technologies LLC now owns 2,523,725 shares of the oil and gas company’s stock worth $256,032,000 after buying an additional 1,918,630 shares during the last quarter. Invesco Ltd. boosted its stake in Chevron by 16.0% during the 3rd quarter. Invesco Ltd. now owns 13,482,487 shares of the oil and gas company’s stock valued at $1,367,797,000 after purchasing an additional 1,859,425 shares during the period. Neuberger Berman Group LLC boosted its stake in Chevron by 137.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,658,662 shares of the oil and gas company’s stock valued at $267,659,000 after purchasing an additional 1,537,886 shares during the period. Morgan Stanley boosted its stake in Chevron by 6.9% during the 2nd quarter. Morgan Stanley now owns 23,302,417 shares of the oil and gas company’s stock valued at $2,440,693,000 after purchasing an additional 1,513,296 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Chevron by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 31,582,362 shares of the oil and gas company’s stock valued at $3,196,349,000 after purchasing an additional 1,037,882 shares during the period. Institutional investors and hedge funds own 65.89% of the company’s stock.

In related news, CFO Pierre R. Breber sold 18,500 shares of Chevron stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $132.90, for a total transaction of $2,458,650.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Inchausti sold 5,600 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $164.85, for a total value of $923,160.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 452,115 shares of company stock worth $69,708,842. 0.32% of the stock is owned by company insiders.

CVX has been the subject of several recent analyst reports. StockNews.com initiated coverage on Chevron in a research note on Thursday, March 31st. They set a “hold” rating for the company. UBS Group raised their price objective on Chevron from $150.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, April 5th. Royal Bank of Canada cut Chevron from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $160.00 to $165.00 in a report on Thursday, April 21st. Raymond James raised their price target on Chevron from $173.00 to $191.00 and gave the company an “outperform” rating in a report on Monday, April 18th. Finally, Credit Suisse Group raised their price target on Chevron from $180.00 to $190.00 in a report on Monday, May 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $165.43.

Shares of CVX traded up $3.16 during midday trading on Friday, hitting $167.87. The stock had a trading volume of 9,229,903 shares, compared to its average volume of 10,133,212. The company has a 50 day simple moving average of $165.05 and a two-hundred day simple moving average of $138.72. Chevron Co. has a twelve month low of $92.86 and a twelve month high of $174.76. The firm has a market cap of $329.83 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 0.82 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings results on Friday, April 29th. The oil and gas company reported $3.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.44 by ($0.08). The firm had revenue of $54.37 billion during the quarter, compared to analyst estimates of $54.96 billion. Chevron had a net margin of 11.10% and a return on equity of 14.66%. The business’s revenue for the quarter was up 69.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 EPS. Analysts forecast that Chevron Co. will post 17.15 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Thursday, May 19th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Wednesday, May 18th. Chevron’s dividend payout ratio is currently 53.38%.

About Chevron (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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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