Chevron Co. (NYSE:CVX) is ZWJ Investment Counsel Inc.’s 10th Largest Position

ZWJ Investment Counsel Inc. boosted its position in shares of Chevron Co. (NYSE:CVX) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 248,681 shares of the oil and gas company’s stock after acquiring an additional 11,220 shares during the period. Chevron accounts for 2.4% of ZWJ Investment Counsel Inc.’s holdings, making the stock its 10th biggest position. ZWJ Investment Counsel Inc.’s holdings in Chevron were worth $30,946,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. BKD Wealth Advisors LLC lifted its holdings in Chevron by 2.5% during the 4th quarter. BKD Wealth Advisors LLC now owns 31,824 shares of the oil and gas company’s stock worth $3,462,000 after buying an additional 763 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Chevron by 4.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 739,226 shares of the oil and gas company’s stock worth $80,420,000 after buying an additional 33,335 shares during the period. Arcadia Investment Management Corp MI lifted its holdings in Chevron by 5.2% during the 4th quarter. Arcadia Investment Management Corp MI now owns 2,863 shares of the oil and gas company’s stock worth $311,000 after buying an additional 141 shares during the period. Advisors Capital Management LLC lifted its holdings in Chevron by 66.0% during the 4th quarter. Advisors Capital Management LLC now owns 13,394 shares of the oil and gas company’s stock worth $1,457,000 after buying an additional 5,323 shares during the period. Finally, Central Bank & Trust Co. lifted its holdings in Chevron by 2.9% during the 4th quarter. Central Bank & Trust Co. now owns 7,388 shares of the oil and gas company’s stock worth $804,000 after buying an additional 211 shares during the period. 65.64% of the stock is owned by institutional investors.

In related news, Chairman Michael K. Wirth sold 33,750 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $125.60, for a total value of $4,239,000.00. Following the completion of the sale, the chairman now directly owns 33,750 shares of the company’s stock, valued at approximately $4,239,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Enrique Hernandez, Jr. sold 4,200 shares of the business’s stock in a transaction dated 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 $1,916,097.57. The disclosure for this sale can be found here. Insiders sold a total of 40,050 shares of company stock valued at $5,007,621 over the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

A number of brokerages have recently issued reports on CVX. Bank of America raised 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. Zacks Investment Research downgraded Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Citigroup began 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. Cowen reissued a “buy” rating and issued a $142.00 price objective on shares of Chevron in a research note on Wednesday, April 17th. Finally, Morgan Stanley dropped their price objective on Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $135.41.

Shares of NYSE:CVX traded down $0.61 during midday trading on Wednesday, reaching $118.77. The company’s stock had a trading volume of 1,484,284 shares, compared to its average volume of 4,951,011. The firm has a market capitalization of $223.94 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 2.97 and a beta of 1.00. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average of $123.92. Chevron Co. has a fifty-two week low of $100.22 and a fifty-two week high of $127.60.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.53. Chevron had a return on equity of 9.61% and a net margin of 9.18%. The business had revenue of $38.85 billion during the quarter, compared to analyst estimates of $40.14 billion. During the same period in the previous year, the company posted $1.78 EPS. The firm’s revenue was down 8.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Co. will post 6.77 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Friday, August 16th. Chevron’s payout ratio is 57.70%.

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.

See Also: Analyst Ratings Trading

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.