Carroll Financial Associates Inc. Reduces Stake in Chevron Co. (NYSE:CVX)

Carroll Financial Associates Inc. cut its holdings in shares of Chevron Co. (NYSE:CVX) by 3.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,749 shares of the oil and gas company’s stock after selling 718 shares during the quarter. Carroll Financial Associates Inc.’s holdings in Chevron were worth $2,749,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CVX. Geode Capital Management LLC grew its position in shares of Chevron by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 19,836,151 shares of the oil and gas company’s stock worth $2,478,038,000 after acquiring an additional 655,892 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Chevron by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 13,026,526 shares of the oil and gas company’s stock worth $1,485,545,000 after acquiring an additional 549,931 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Chevron by 3.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 8,728,794 shares of the oil and gas company’s stock worth $995,432,000 after acquiring an additional 275,289 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Chevron by 0.4% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,624,550 shares of the oil and gas company’s stock worth $869,505,000 after acquiring an additional 31,022 shares in the last quarter. Finally, Boston Partners grew its position in shares of Chevron by 2.4% in the 1st quarter. Boston Partners now owns 7,482,304 shares of the oil and gas company’s stock worth $853,282,000 after acquiring an additional 175,360 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

In other Chevron news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction on Thursday, July 12th. The stock was sold at an average price of $124.20, for a total transaction of $589,950.00. Following the completion of the transaction, the insider now owns 4,750 shares in the company, valued at approximately $589,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

Shares of CVX stock opened at $124.84 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. Chevron Co. has a 1 year low of $108.02 and a 1 year high of $133.88. The firm has a market cap of $234.31 billion, a price-to-earnings ratio of 33.74, a price-to-earnings-growth ratio of 2.14 and a beta of 1.07.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 27th. The oil and gas company reported $1.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.09 by ($0.31). Chevron had a return on equity of 6.89% and a net margin of 7.87%. The business had revenue of $42.24 billion for the quarter, compared to analyst estimates of $46.62 billion. During the same quarter last year, the firm posted $0.77 EPS. The company’s revenue was up 22.5% compared to the same quarter last year. Equities analysts expect that Chevron Co. will post 8.17 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 17th were given a dividend of $1.12 per share. The ex-dividend date was Thursday, August 16th. This represents a $4.48 dividend on an annualized basis and a yield of 3.59%. Chevron’s dividend payout ratio (DPR) is presently 121.08%.

A number of research analysts recently issued reports on CVX shares. Goldman Sachs Group restated a “buy” rating and set a $141.00 price objective on shares of Chevron in a research report on Tuesday, July 31st. HSBC upgraded Chevron from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. Zacks Investment Research lowered Chevron from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. ValuEngine lowered Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Royal Bank of Canada restated a “neutral” rating and set a $145.00 price objective on shares of Chevron in a research report on Monday, July 2nd. Nine analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Chevron has an average rating of “Buy” and a consensus target price of $136.83.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production 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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