Quest Capital Management Inc. ADV Has $2.18 Million Stake in Chevron Co. (NYSE:CVX)

Quest Capital Management Inc. ADV decreased its holdings in Chevron Co. (NYSE:CVX) by 99.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,544 shares of the oil and gas company’s stock after selling 2,276,511 shares during the quarter. Chevron accounts for about 0.6% of Quest Capital Management Inc. ADV’s portfolio, making the stock its 19th largest holding. Quest Capital Management Inc. ADV’s holdings in Chevron were worth $2,183,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Thoroughbred Financial Services LLC boosted its position in shares of Chevron by 12,204.4% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,259,805 shares of the oil and gas company’s stock worth $325,980,000 after acquiring an additional 3,233,312 shares in the last quarter. PGGM Investments acquired a new stake in shares of Chevron during the 2nd quarter worth approximately $164,371,000. Nordea Investment Management AB boosted its position in shares of Chevron by 298.6% during the 4th quarter. Nordea Investment Management AB now owns 1,695,198 shares of the oil and gas company’s stock worth $184,416,000 after acquiring an additional 1,269,889 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in shares of Chevron during the 2nd quarter worth approximately $133,556,000. Finally, Royal London Asset Management Ltd. acquired a new stake in shares of Chevron during the 4th quarter worth approximately $88,758,000. Institutional investors and hedge funds own 66.45% of the company’s stock.

CVX has been the topic of several analyst reports. 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. BMO Capital Markets initiated coverage on shares of Chevron in a research report on Tuesday. They set an “outperform” rating and a $165.00 price target on the stock. Citigroup initiated coverage on shares of Chevron in a research report on Monday, May 13th. They set a “buy” rating and a $135.00 price target on the stock. Zacks Investment Research lowered shares of Chevron from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, Barclays initiated coverage on shares of Chevron in a research report on Monday. They set an “overweight” rating and a $145.00 price target on the stock. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $136.78.

In other news, Chairman Michael K. Wirth sold 33,750 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the completion of the transaction, the chairman now owns 33,750 shares of the company’s stock, valued at $4,239,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph C. Geagea sold 8,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total transaction of $980,000.00. Following the transaction, the insider now directly owns 9,243 shares of the company’s stock, valued at approximately $1,132,267.50. The disclosure for this sale can be found here. Insiders sold 51,750 shares of company stock worth $6,448,700 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Chevron stock traded up $0.47 during mid-day trading on Thursday, reaching $118.35. The company had a trading volume of 11,895 shares, compared to its average volume of 6,253,847. Chevron Co. has a fifty-two week low of $100.22 and a fifty-two week 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 company has a market cap of $222.70 billion, a P/E ratio of 14.35, a P/E/G ratio of 2.82 and a beta of 1.00. The business has a fifty day simple moving average of $122.41 and a 200 day simple moving average of $121.41.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.53. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The firm had revenue of $38.85 billion for the quarter, compared to analyst estimates of $40.14 billion. During the same quarter last year, the business posted $1.78 earnings per share. The company’s quarterly revenue was down 8.0% on a year-over-year basis. Research analysts forecast that Chevron Co. will post 6.93 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a $1.19 dividend. The ex-dividend date is Friday, August 16th. This represents a $4.76 dividend on an annualized basis and a yield of 4.02%. Chevron’s dividend 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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