QV Investors Inc. Takes Position in Chevron Co. (NYSE:CVX)

QV Investors Inc. bought a new stake in shares of Chevron Co. (NYSE:CVX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 89,130 shares of the oil and gas company’s stock, valued at approximately $11,091,000. Chevron makes up about 1.5% of QV Investors Inc.’s portfolio, making the stock its 20th largest position.

Several other institutional investors have also made changes to their positions in CVX. Guidant Wealth Advisors lifted its position in shares of Chevron by 63.9% during the second quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 101 shares during the last quarter. Evolution Wealth Advisors LLC bought a new position in shares of Chevron during the second quarter worth about $34,000. Cordasco Financial Network lifted its position in shares of Chevron by 55.3% during the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 135 shares during the last quarter. Ironwood Financial llc lifted its position in shares of Chevron by 94.2% during the fourth quarter. Ironwood Financial llc now owns 538 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 261 shares during the last quarter. Finally, Thor Advisors LLC bought a new position in shares of Chevron during the first quarter worth about $67,000. Institutional investors own 65.55% of the company’s stock.

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $121.75, for a total value of $255,675.00. Following the sale, the director now owns 15,689 shares in the company, valued at $1,910,135.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Enrique Hernandez, Jr. sold 4,200 shares of the firm’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 transaction of $512,946.00. Following the completion of the sale, the director now owns 15,689 shares in the company, valued at approximately $1,916,097.57. The disclosure for this sale can be found here. Insiders sold 40,050 shares of company stock worth $5,007,621 in the last 90 days. 0.31% of the stock is owned by company insiders.

CVX has been the topic of several research analyst reports. Zacks Investment Research cut shares of Chevron from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Bank of America raised shares of Chevron from a “neutral” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Friday, April 12th. Cowen reaffirmed a “buy” rating and set a $142.00 price target on shares of Chevron in a research report on Wednesday, April 17th. Morgan Stanley reduced their price target on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Citigroup assumed coverage on shares of Chevron in a report on Monday, May 13th. They issued a “buy” rating and a $135.00 target price on the stock. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $135.41.

NYSE CVX traded down $0.01 during trading hours on Friday, reaching $120.73. The company’s stock had a trading volume of 9,025,553 shares, compared to its average volume of 4,276,224. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.90 and a current ratio of 1.12. The company has a 50-day moving average of $124.02. Chevron Co. has a 52 week low of $100.22 and a 52 week high of $127.60. The company has a market cap of $234.49 billion, a PE ratio of 14.63, a PEG ratio of 3.03 and a beta of 1.00.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.53. Chevron had a net margin of 8.45% and a return on equity of 9.07%. The firm had revenue of $38.85 billion for the quarter, compared to analysts’ expectations of $40.14 billion. During the same quarter last year, the company posted $1.78 earnings per share. Chevron’s revenue was down 8.0% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Co. will post 6.77 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid a $1.19 dividend. The ex-dividend date is Friday, August 16th. This represents a $4.76 annualized dividend and a dividend yield of 3.94%. Chevron’s payout ratio is currently 57.70%.

Chevron Company 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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