Grand Central Investment Group Boosts Stock Position in Chevron Co. (NYSE:CVX)

Grand Central Investment Group lifted its holdings in Chevron Co. (NYSE:CVXGet Rating) by 1.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,138 shares of the oil and gas company’s stock after purchasing an additional 285 shares during the period. Chevron accounts for approximately 3.8% of Grand Central Investment Group’s portfolio, making the stock its 10th biggest holding. Grand Central Investment Group’s holdings in Chevron were worth $2,626,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CVX. Vanguard Group Inc. increased its stake in 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 acquiring an additional 4,367,157 shares during the period. Norges Bank bought a new position in Chevron during the fourth quarter valued at about $3,111,594,000. Charles Schwab Investment Management Inc. increased its stake in Chevron by 1.3% during 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. Dimensional Fund Advisors LP boosted its holdings in Chevron by 17.3% during 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 purchasing an additional 1,437,047 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Chevron by 13.6% during the first quarter. Swiss National Bank now owns 8,349,332 shares of the oil and gas company’s stock valued at $1,359,522,000 after purchasing an additional 998,700 shares in the last quarter. 69.30% of the stock is currently owned by institutional investors.

Chevron Stock Performance

CVX stock opened at $154.89 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.11. The company has a 50 day moving average price of $155.74 and a 200 day moving average price of $160.31. Chevron Co. has a fifty-two week low of $97.75 and a fifty-two week high of $182.40. The stock has a market capitalization of $304.33 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 0.60 and a beta of 1.15.

Chevron (NYSE:CVXGet Rating) last issued its earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, beating the consensus estimate of $4.66 by $1.16. The company had revenue of $68.76 billion during the quarter, compared to analysts’ expectations of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The business’s revenue for the quarter was up 82.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 EPS. Analysts forecast that Chevron Co. will post 18.37 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Thursday, August 18th. Chevron’s payout ratio is 37.89%.

Insider Buying and Selling at Chevron

In other Chevron news, Director Wanda M. Austin sold 11,432 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the sale, the director now owns 3,560 shares in the company, valued at approximately $574,762. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Wanda M. Austin sold 11,432 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $161.45, for a total value of $1,845,696.40. Following the completion of the sale, the director now owns 3,560 shares in the company, valued at approximately $574,762. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Pierre R. Breber sold 22,500 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $158.11, for a total transaction of $3,557,475.00. Following the completion of the sale, the chief financial officer now owns 7 shares of the company’s stock, valued at approximately $1,106.77. The disclosure for this sale can be found here. In the last 90 days, insiders sold 141,732 shares of company stock worth $23,024,499. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVX. Wells Fargo & Company lifted their price objective 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 lifted their price objective on Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a report on Monday, August 1st. Credit Suisse Group reaffirmed an “outperform” rating and set a $202.00 price objective on shares of Chevron in a report on Thursday, August 11th. Cowen lifted their price objective on Chevron from $119.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, August 15th. Finally, Citigroup decreased their price objective on Chevron from $170.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $169.20.

Chevron Company Profile

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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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