Highstreet Asset Management Inc. Boosts Position in Chevron Corporation (CVX)

Highstreet Asset Management Inc. increased its holdings in Chevron Corporation (NYSE:CVX) by 13.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,089 shares of the oil and gas company’s stock after buying an additional 1,910 shares during the quarter. Highstreet Asset Management Inc.’s holdings in Chevron Corporation were worth $1,679,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Shine Investment Advisory Services Inc. bought a new stake in Chevron Corporation during the 2nd quarter worth approximately $106,000. Thompson Davis & CO. Inc. raised its stake in Chevron Corporation by 20.0% during the 1st quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after acquiring an additional 191 shares during the period. Winfield Associates Inc. raised its stake in Chevron Corporation by 5.1% during the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after acquiring an additional 63 shares during the period. Daiwa SB Investments Ltd. raised its stake in Chevron Corporation by 438.5% during the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after acquiring an additional 1,140 shares during the period. Finally, New Capital Management LP raised its stake in Chevron Corporation by 0.3% during the 1st quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock worth $156,000 after acquiring an additional 4 shares during the period. 63.15% of the stock is currently owned by institutional investors.

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A number of equities research analysts have commented on CVX shares. TheStreet upgraded shares of Chevron Corporation from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Piper Jaffray Companies restated a “buy” rating on shares of Chevron Corporation in a research note on Thursday, August 3rd. Jefferies Group LLC set a $130.00 target price on shares of Chevron Corporation and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Credit Suisse Group set a $123.00 target price on shares of Chevron Corporation and gave the stock a “buy” rating in a research note on Friday, August 25th. Finally, BMO Capital Markets set a $120.00 price objective on shares of Chevron Corporation and gave the company a “buy” rating in a research report on Sunday, July 30th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $120.54.

In other news, CFO Patricia E. Yarrington sold 13,143 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the completion of the sale, the chief financial officer now directly owns 17,981 shares of the company’s stock, valued at $2,067,994.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the sale, the vice president now directly owns 25,500 shares of the company’s stock, valued at $3,060,000. The disclosure for this sale can be found here. Insiders have sold 63,122 shares of company stock valued at $7,433,361 over the last ninety days. 0.38% of the stock is owned by insiders.

Chevron Corporation (CVX) opened at $114.72 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. The company has a market cap of $217,900.00, a price-to-earnings ratio of 32.13, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22. Chevron Corporation has a one year low of $102.55 and a one year high of $120.89.

Chevron Corporation (NYSE:CVX) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. The company had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. Chevron Corporation had a net margin of 4.79% and a return on equity of 4.59%. Chevron Corporation’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. equities analysts anticipate that Chevron Corporation will post 4.28 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron Corporation’s payout ratio is 125.95%.

Chevron Corporation Company 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 Corporation (NYSE:CVX)

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