Rudd International Inc. Invests $543,000 in Chevron Co. (NYSE:CVX)

Rudd International Inc. acquired a new position in shares of Chevron Co. (NYSE:CVX) during the second quarter, Holdings Channel reports. The fund acquired 4,368 shares of the oil and gas company’s stock, valued at approximately $543,000.

Other hedge funds also recently added to or reduced their stakes in the company. Guidant Wealth Advisors raised its holdings in shares of Chevron by 63.9% in the 2nd quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 101 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new stake in shares of Chevron in the 2nd quarter worth about $34,000. Cordasco Financial Network raised its holdings in shares of Chevron by 55.3% in the 2nd quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock worth $47,000 after acquiring an additional 135 shares during the last quarter. Next Capital Management LLC acquired a new stake in shares of Chevron in the 2nd quarter worth about $52,000. Finally, Ashburton Jersey Ltd acquired a new stake in shares of Chevron in the 2nd quarter worth about $54,000. 66.45% of the stock is currently owned by institutional investors.

In other news, EVP Joseph C. Geagea sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $122.97, for a total transaction of $1,229,700.00. Following the completion of the transaction, the executive vice president now directly owns 11,243 shares of the company’s stock, valued at approximately $1,382,551.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Michael K. Wirth sold 33,750 shares of the stock in a transaction that occurred 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 transaction, the chairman now directly owns 33,750 shares of the company’s stock, valued at $4,239,000. The disclosure for this sale can be found here. Insiders have sold a total of 51,750 shares of company stock valued at $6,448,700 over the last three months. Insiders own 0.31% of the company’s stock.

Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Morgan Stanley decreased their price objective on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Barclays assumed coverage on shares of Chevron in a research note on Monday. They issued an “overweight” rating and a $145.00 price objective for the company. Citigroup assumed coverage on shares of Chevron in a research note on Monday, May 13th. They issued a “buy” rating and a $135.00 price objective for the company. Finally, BMO Capital Markets assumed coverage on shares of Chevron in a research note on Tuesday. They issued an “outperform” rating and a $165.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Chevron presently has a consensus rating of “Buy” and an average target price of $136.78.

Chevron stock opened at $118.52 on Thursday. Chevron Co. has a twelve month low of $100.22 and a twelve month high of $127.60. The firm has a 50 day moving average price of $122.41 and a 200-day moving average price of $121.41. The company has a market capitalization of $222.70 billion, a P/E ratio of 14.37, a P/E/G ratio of 2.82 and a beta of 1.00. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $40.14 billion. During the same period in the prior year, the firm earned $1.78 EPS. The company’s revenue was down 8.0% compared to the same quarter last year. Equities analysts expect that Chevron Co. will post 6.93 EPS for the current fiscal year.

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