Jarislowsky Fraser Ltd Sells 7,041 Shares of Chevron Co. (CVX)

Jarislowsky Fraser Ltd reduced its stake in shares of Chevron Co. (NYSE:CVX) by 1.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 370,181 shares of the oil and gas company’s stock after selling 7,041 shares during the quarter. Jarislowsky Fraser Ltd’s holdings in Chevron were worth $40,271,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. First National Trust Co raised its holdings in Chevron by 4.6% during the 3rd quarter. First National Trust Co now owns 138,270 shares of the oil and gas company’s stock worth $16,908,000 after buying an additional 6,029 shares during the period. Moody National Bank Trust Division raised its holdings in Chevron by 766.6% during the 3rd quarter. Moody National Bank Trust Division now owns 142,566 shares of the oil and gas company’s stock worth $17,433,000 after buying an additional 126,115 shares during the period. Eads & Heald Wealth Management raised its holdings in Chevron by 3.4% during the 3rd quarter. Eads & Heald Wealth Management now owns 16,634 shares of the oil and gas company’s stock worth $2,034,000 after buying an additional 551 shares during the period. Hutchinson Capital Management CA raised its holdings in Chevron by 7.4% during the 3rd quarter. Hutchinson Capital Management CA now owns 28,439 shares of the oil and gas company’s stock worth $3,478,000 after buying an additional 1,970 shares during the period. Finally, Private Capital Group LLC raised its holdings in Chevron by 9.7% during the 3rd quarter. Private Capital Group LLC now owns 10,181 shares of the oil and gas company’s stock worth $1,244,000 after buying an additional 900 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $124.84, for a total value of $592,990.00. Following the completion of the sale, the insider now owns 4,750 shares of the company’s stock, valued at approximately $592,990. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Enrique Hernandez, Jr. sold 4,200 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $122.13, for a total value of $512,946.00. Following the completion of the sale, the director now directly owns 15,689 shares of the company’s stock, valued at approximately $1,916,097.57. The disclosure for this sale can be found here. In the last three months, insiders sold 15,800 shares of company stock valued at $1,958,211. 0.31% of the stock is currently owned by company insiders.

Shares of NYSE CVX opened at $117.87 on Friday. The company has a market capitalization of $229.65 billion, a P/E ratio of 14.29, a PEG ratio of 2.58 and a beta of 1.00. Chevron Co. has a 52 week low of $100.22 and a 52 week high of $128.55. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 0.90.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.13. The business had revenue of $35.20 billion during the quarter, compared to analysts’ expectations of $38.42 billion. Chevron had a return on equity of 9.07% and a net margin of 8.45%. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.90 EPS. As a group, equities analysts forecast that Chevron Co. will post 7.52 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a $1.19 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.76 annualized dividend and a dividend yield of 4.04%. Chevron’s payout ratio is 57.70%.

CVX has been the topic of several research analyst reports. Cowen reaffirmed a “buy” rating and set a $142.00 target price on shares of Chevron in a research note on Wednesday, April 17th. Zacks Investment Research cut Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Tudor Pickering initiated coverage on Chevron in a research note on Friday, March 1st. They set a “buy” rating and a $133.00 target price on the stock. Bank of America raised Chevron from a “neutral” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Friday, April 12th. Finally, Citigroup lifted their target price on Chevron from $135.00 to $142.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $135.42.

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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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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