HL Financial Services LLC Has $42.26 Million Position in Chevron Co. (CVX)

HL Financial Services LLC lessened its stake in Chevron Co. (NYSE:CVX) by 0.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 370,604 shares of the oil and gas company’s stock after selling 1,713 shares during the quarter. HL Financial Services LLC’s holdings in Chevron were worth $42,264,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Commerzbank Aktiengesellschaft FI raised its stake in Chevron by 7.0% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 85,248 shares of the oil and gas company’s stock worth $10,017,000 after acquiring an additional 5,611 shares in the last quarter. King Wealth Management Group LLC grew its holdings in shares of Chevron by 15.2% during the third quarter. King Wealth Management Group LLC now owns 17,774 shares of the oil and gas company’s stock worth $2,088,000 after purchasing an additional 2,347 shares during the last quarter. Emancipation Management LLC bought a new stake in shares of Chevron during the third quarter worth about $206,000. Empirical Financial Services LLC grew its holdings in shares of Chevron by 48.2% during the third quarter. Empirical Financial Services LLC now owns 15,873 shares of the oil and gas company’s stock worth $1,865,000 after purchasing an additional 5,165 shares during the last quarter. Finally, Tredje AP fonden grew its holdings in shares of Chevron by 9.4% during the third quarter. Tredje AP fonden now owns 206,441 shares of the oil and gas company’s stock worth $24,257,000 after purchasing an additional 17,680 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Chevron stock opened at $124.04 on Monday. The company has a market cap of $236.95 billion, a price-to-earnings ratio of 33.52, a price-to-earnings-growth ratio of 2.14 and a beta of 1.14. Chevron Co. has a 52-week low of $102.55 and a 52-week high of $133.88. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 27th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.45. The firm had revenue of $37.76 billion for the quarter, compared to analysts’ expectations of $40.34 billion. Chevron had a return on equity of 5.83% and a net margin of 6.95%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 EPS. sell-side analysts forecast that Chevron Co. will post 8.29 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 11th. Shareholders of record on Friday, May 18th were issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Thursday, May 17th. Chevron’s payout ratio is 121.08%.

In other news, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 17th. The stock was sold at an average price of $121.97, for a total transaction of $3,110,235.00. Following the transaction, the vice president now directly owns 25,500 shares of the company’s stock, valued at $3,110,235. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James William Johnson sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $129.44, for a total value of $1,229,680.00. Following the transaction, the insider now directly owns 9,500 shares in the company, valued at $1,229,680. The disclosure for this sale can be found here. Insiders have sold a total of 386,500 shares of company stock worth $49,748,880 over the last 90 days. Company insiders own 0.46% of the company’s stock.

Several research firms have recently weighed in on CVX. Zacks Investment Research upgraded Chevron from a “hold” rating to a “strong-buy” rating and set a $147.00 price target on the stock in a report on Wednesday, June 13th. Wells Fargo & Co boosted their price target on Chevron from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, June 7th. Mizuho began coverage on Chevron in a report on Friday, June 8th. They set a “buy” rating and a $145.00 price target on the stock. Credit Suisse Group boosted their price target on Chevron from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Monday, April 30th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $140.00 price target on shares of Chevron in a report on Monday, April 23rd. Six investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Chevron currently has a consensus rating of “Buy” and a consensus price target of $135.52.

Chevron 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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