Cullen Frost Bankers Inc. Has $34.09 Million Stake in Chevron Corporation (CVX)

Cullen Frost Bankers Inc. increased its stake in shares of Chevron Corporation (NYSE:CVX) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 326,707 shares of the oil and gas company’s stock after purchasing an additional 6,579 shares during the quarter. Chevron Corporation accounts for 1.1% of Cullen Frost Bankers Inc.’s holdings, making the stock its 15th biggest holding. Cullen Frost Bankers Inc.’s holdings in Chevron Corporation were worth $34,085,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Capital Management LP boosted its holdings in Chevron Corporation by 0.3% during the 1st quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock valued at $156,000 after acquiring an additional 4 shares during the period. Hochman Cole Investment Advisors Inc. boosted its holdings in Chevron Corporation by 0.3% during the 2nd quarter. Hochman Cole Investment Advisors Inc. now owns 2,682 shares of the oil and gas company’s stock valued at $280,000 after acquiring an additional 7 shares during the period. Haverford Financial Services Inc. boosted its holdings in Chevron Corporation by 0.7% during the 1st quarter. Haverford Financial Services Inc. now owns 2,303 shares of the oil and gas company’s stock valued at $247,000 after acquiring an additional 16 shares during the period. Orgel Wealth Management LLC boosted its holdings in Chevron Corporation by 0.8% during the 1st quarter. Orgel Wealth Management LLC now owns 2,346 shares of the oil and gas company’s stock valued at $252,000 after acquiring an additional 18 shares during the period. Finally, Northstar Group Inc. boosted its holdings in Chevron Corporation by 0.5% during the 2nd quarter. Northstar Group Inc. now owns 3,714 shares of the oil and gas company’s stock valued at $388,000 after acquiring an additional 19 shares during the period. 62.90% of the stock is currently owned by hedge funds and other institutional investors.

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In other Chevron Corporation news, VP R. Hewitt Pate sold 25,500 shares of Chevron Corporation stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the completion of the sale, the vice president now directly owns 25,500 shares of the company’s stock, valued at approximately $3,060,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James William Johnson sold 31,000 shares of Chevron Corporation stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the sale, the insider now directly owns 11,000 shares of the company’s stock, valued at $1,217,480. The disclosure for this sale can be found here. Insiders have sold a total of 97,812 shares of company stock valued at $11,068,343 over the last ninety days. 0.38% of the stock is owned by company insiders.

Chevron Corporation (NYSE CVX) opened at 114.39 on Tuesday. Chevron Corporation has a 12 month low of $100.95 and a 12 month high of $120.89. The company’s 50-day moving average price is $117.19 and its 200 day moving average price is $109.10. The firm has a market capitalization of $216.77 billion, a price-to-earnings ratio of 37.09 and a beta of 1.24.

Chevron Corporation (NYSE:CVX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.04. The company had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. Chevron Corporation’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 EPS. Analysts predict that Chevron Corporation will post $4.08 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron Corporation’s dividend payout ratio (DPR) is 125.95%.

A number of equities analysts recently issued reports on the company. Barclays PLC restated an “overweight” rating and set a $125.00 price objective (up previously from $116.00) on shares of Chevron Corporation in a report on Wednesday, July 12th. Jefferies Group LLC restated a “buy” rating and set a $137.00 price objective (up previously from $113.54) on shares of Chevron Corporation in a report on Monday. Citigroup Inc. boosted their price objective on Chevron Corporation from $118.00 to $128.00 and gave the company a “buy” rating in a report on Monday. BidaskClub cut Chevron Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, J P Morgan Chase & Co restated an “overweight” rating on shares of Chevron Corporation in a report on Saturday, September 16th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $120.14.

Chevron Corporation Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Institutional Ownership by Quarter for Chevron Corporation (NYSE:CVX)

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