Advisor Partners LLC Has $4.44 Million Stake in Chevron Corporation (CVX)

Advisor Partners LLC grew its position in Chevron Corporation (NYSE:CVX) by 22.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,540 shares of the oil and gas company’s stock after purchasing an additional 7,783 shares during the period. Chevron Corporation comprises about 1.0% of Advisor Partners LLC’s portfolio, making the stock its 14th largest position. Advisor Partners LLC’s holdings in Chevron Corporation were worth $4,438,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Thompson Davis & CO. Inc. increased its holdings in Chevron Corporation by 20.0% during the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after buying an additional 191 shares during the last quarter. Winfield Associates Inc. increased its holdings in Chevron Corporation by 5.1% during the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after buying an additional 63 shares during the last quarter. Daiwa SB Investments Ltd. increased its holdings in Chevron Corporation by 438.5% during the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after buying an additional 1,140 shares during the last quarter. New Capital Management LP increased its holdings in Chevron Corporation by 0.3% during the first quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock worth $156,000 after buying an additional 4 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA increased its holdings in Chevron Corporation by 8.8% during the first quarter. Marshall & Sullivan Inc. WA now owns 1,985 shares of the oil and gas company’s stock worth $213,000 after buying an additional 160 shares during the last quarter. Institutional investors own 62.90% of the company’s stock.

In other Chevron Corporation news, Director Linnet F. Deily sold 2,312 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total transaction of $248,262.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP R. Hewitt Pate sold 25,500 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the sale, the vice president now directly owns 25,500 shares of the company’s stock, valued at $3,060,000. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

A number of analysts recently issued reports on the stock. BMO Capital Markets downgraded shares of Chevron Corporation from an “outperform” rating to a “market perform” rating and set a $120.00 price objective for the company. in a report on Wednesday, October 18th. They noted that the move was a valuation call. Societe Generale downgraded shares of Chevron Corporation from a “buy” rating to a “hold” rating and raised their price objective for the stock from $120.00 to $130.00 in a report on Wednesday, October 18th. Morgan Stanley raised their price objective on shares of Chevron Corporation from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Vetr downgraded shares of Chevron Corporation from a “buy” rating to a “hold” rating and set a $124.92 price objective for the company. in a report on Monday, October 16th. Finally, Macquarie upgraded shares of Chevron Corporation from a “neutral” rating to an “outperform” rating and set a $135.00 price objective for the company in a report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $120.45.

Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Chevron Corporation had a net margin of 4.79% and a return on equity of 4.59%. The business had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. During the same period last year, the firm posted $0.68 EPS. The company’s revenue was up 20.1% on a year-over-year basis.

The business also recently disclosed 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 3.73%. The ex-dividend date is Thursday, November 16th. Chevron Corporation’s dividend payout ratio (DPR) is currently 125.95%.

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About Chevron Corporation

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.

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

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