Chevron Co. (CVX) Holdings Increased by American Assets Investment Management LLC

American Assets Investment Management LLC increased its holdings in Chevron Co. (NYSE:CVX) by 8.7% in the 4th quarter, HoldingsChannel reports. The fund owned 87,670 shares of the oil and gas company’s stock after buying an additional 7,000 shares during the period. Chevron comprises about 1.7% of American Assets Investment Management LLC’s holdings, making the stock its 6th biggest position. American Assets Investment Management LLC’s holdings in Chevron were worth $9,538,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Dupont Capital Management Corp grew its holdings in shares of Chevron by 15.2% in the fourth quarter. Dupont Capital Management Corp now owns 297,718 shares of the oil and gas company’s stock valued at $32,389,000 after acquiring an additional 39,213 shares in the last quarter. Naples Global Advisors LLC grew its holdings in shares of Chevron by 18.3% in the fourth quarter. Naples Global Advisors LLC now owns 7,089 shares of the oil and gas company’s stock valued at $804,000 after acquiring an additional 1,097 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in Chevron by 1.1% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 138,215 shares of the oil and gas company’s stock valued at $15,036,000 after purchasing an additional 1,505 shares during the last quarter. Signature Estate & Investment Advisors LLC lifted its stake in Chevron by 776.4% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 10,324 shares of the oil and gas company’s stock valued at $1,123,000 after purchasing an additional 9,146 shares during the last quarter. Finally, Pettinga Financial Advisors LLC purchased a new position in Chevron in the fourth quarter valued at approximately $377,000. 65.90% of the stock is owned by institutional investors.

Several equities analysts recently commented on the company. Morgan Stanley dropped their price objective on Chevron from $150.00 to $149.00 and set an “overweight” rating on the stock in a research note on Thursday. Citigroup assumed coverage on Chevron in a research note on Monday, May 13th. They issued a “buy” rating and a $135.00 price objective on the stock. Zacks Investment Research downgraded Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Cowen reiterated a “buy” rating and issued a $142.00 price objective on shares of Chevron in a research note on Wednesday, April 17th. Finally, Bank of America upgraded Chevron from a “neutral” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Friday, April 12th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $135.42.

In other Chevron news, Director Enrique Hernandez, Jr. sold 4,200 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $122.13, for a total transaction of $512,946.00. Following the sale, the director now owns 15,689 shares in the company, valued at $1,916,097.57. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James William Johnson sold 4,750 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $125.60, for a total value of $596,600.00. Following the sale, the insider now owns 4,750 shares in the company, valued at approximately $596,600. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,700 shares of company stock worth $1,702,536. Company insiders own 0.31% of the company’s stock.

NYSE:CVX opened at $120.52 on Monday. The firm has a market cap of $229.56 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 2.58 and a beta of 1.00. Chevron Co. has a 1 year low of $100.22 and a 1 year high of $130.39. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.13. The firm had revenue of $35.20 billion for the quarter, compared to the consensus estimate of $38.42 billion. Chevron had a return on equity of 9.07% and a net margin of 8.45%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.90 earnings per share. On average, analysts predict that Chevron Co. will post 7.52 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a dividend of $1.19 per share. The ex-dividend date is Thursday, May 16th. This represents a $4.76 annualized dividend and a dividend yield of 3.95%. Chevron’s dividend payout ratio is currently 57.70%.

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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.

Further Reading: Net Margin

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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