Wright Investors Service Inc. Buys 4,895 Shares of Chevron Co. (NYSE:CVX)

Wright Investors Service Inc. grew its stake in Chevron Co. (NYSE:CVX) by 29.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,431 shares of the oil and gas company’s stock after purchasing an additional 4,895 shares during the quarter. Wright Investors Service Inc.’s holdings in Chevron were worth $2,667,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Murphy Middleton Hinkle & Parker Inc. increased its position in Chevron by 0.6% in the second quarter. Murphy Middleton Hinkle & Parker Inc. now owns 14,149 shares of the oil and gas company’s stock worth $1,761,000 after buying an additional 84 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC increased its position in Chevron by 1.7% in the second quarter. Landsberg Bennett & Dubbaneh LLC now owns 5,051 shares of the oil and gas company’s stock worth $631,000 after buying an additional 86 shares during the last quarter. JNBA Financial Advisors increased its position in Chevron by 1.6% in the second quarter. JNBA Financial Advisors now owns 5,604 shares of the oil and gas company’s stock worth $697,000 after buying an additional 86 shares during the last quarter. Taylor Cottrill Erickson & Associates Inc. increased its position in Chevron by 0.5% in the fourth quarter. Taylor Cottrill Erickson & Associates Inc. now owns 18,079 shares of the oil and gas company’s stock worth $1,967,000 after buying an additional 90 shares during the last quarter. Finally, Bingham Osborn & Scarborough LLC increased its position in Chevron by 0.5% in the fourth quarter. Bingham Osborn & Scarborough LLC now owns 18,273 shares of the oil and gas company’s stock worth $1,988,000 after buying an additional 92 shares during the last quarter. Institutional investors own 66.45% of the company’s stock.

A number of research firms have issued reports on CVX. Citigroup began coverage on Chevron in a research report on Monday, May 13th. They issued a “buy” rating and a $135.00 target price for the company. Zacks Investment Research downgraded Chevron from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Barclays began coverage on Chevron in a research report on Monday. They issued an “overweight” rating and a $145.00 target price for the company. Finally, Morgan Stanley decreased their target price on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Chevron currently has an average rating of “Buy” and a consensus target price of $135.11.

In related news, Chairman Michael K. Wirth sold 33,750 shares of Chevron stock in a transaction on Friday, June 21st. The stock was sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the completion of the sale, the chairman now owns 33,750 shares of the company’s stock, valued at $4,239,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Debra L. Reed acquired 4,250 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $118.14 per share, with a total value of $502,095.00. The disclosure for this purchase can be found here. Insiders have sold 51,750 shares of company stock valued at $6,448,700 in the last three months. 0.31% of the stock is owned by corporate insiders.

Shares of NYSE CVX traded down $0.95 during mid-day trading on Tuesday, hitting $116.36. The company had a trading volume of 2,938,627 shares, compared to its average volume of 6,095,443. The company has a market capitalization of $219.86 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 2.79 and a beta of 1.00. Chevron Co. has a 1 year low of $100.22 and a 1 year high of $127.60. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average price is $122.67 and its 200-day moving average price is $121.40.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.53. The company had revenue of $38.85 billion during the quarter, compared to analysts’ expectations of $40.14 billion. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 6.93 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 4.09%. The ex-dividend date is Friday, August 16th. Chevron’s dividend payout ratio is 57.70%.

About Chevron

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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