Voya Investment Management LLC Has $321.49 Million Position in Chevron Co. (CVX)

Voya Investment Management LLC increased its holdings in Chevron Co. (NYSE:CVX) by 3.5% during the 2nd quarter, Holdings Channel reports. The firm owned 2,542,867 shares of the oil and gas company’s stock after purchasing an additional 86,908 shares during the period. Chevron accounts for approximately 0.7% of Voya Investment Management LLC’s investment portfolio, making the stock its 15th biggest holding. Voya Investment Management LLC’s holdings in Chevron were worth $321,494,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. South Street Advisors LLC boosted its position in Chevron by 5.1% during the first quarter. South Street Advisors LLC now owns 8,490 shares of the oil and gas company’s stock valued at $968,000 after acquiring an additional 410 shares during the last quarter. Private Capital Group LLC boosted its position in Chevron by 4.6% during the second quarter. Private Capital Group LLC now owns 9,281 shares of the oil and gas company’s stock valued at $1,173,000 after acquiring an additional 412 shares during the last quarter. Strategic Financial Services Inc boosted its position in Chevron by 1.1% during the second quarter. Strategic Financial Services Inc now owns 37,454 shares of the oil and gas company’s stock valued at $4,735,000 after acquiring an additional 413 shares during the last quarter. Montgomery Investment Management Inc. boosted its position in Chevron by 0.6% during the second quarter. Montgomery Investment Management Inc. now owns 74,541 shares of the oil and gas company’s stock valued at $9,425,000 after acquiring an additional 430 shares during the last quarter. Finally, Reynders McVeigh Capital Management LLC boosted its position in Chevron by 2.4% during the second quarter. Reynders McVeigh Capital Management LLC now owns 18,311 shares of the oil and gas company’s stock valued at $2,315,000 after acquiring an additional 431 shares during the last quarter. 64.89% of the stock is currently owned by institutional investors.

In other news, insider James William Johnson sold 4,750 shares of the company’s stock in a transaction dated Thursday, October 11th. The shares were sold at an average price of $119.97, for a total transaction of $569,857.50. Following the transaction, the insider now owns 4,750 shares in the company, valued at $569,857.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

A number of brokerages have commented on CVX. Credit Suisse Group raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $138.00 price target on the stock in a research report on Monday, November 5th. Bank of America reaffirmed a “neutral” rating and set a $140.00 price target (up previously from $135.00) on shares of Chevron in a research report on Monday, November 5th. Berenberg Bank began coverage on shares of Chevron in a research report on Tuesday, September 11th. They set a “hold” rating and a $135.00 price target on the stock. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. Finally, Wells Fargo & Co cut their price target on shares of Chevron from $160.00 to $158.00 and set an “outperform” rating on the stock in a research report on Monday, November 5th. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Chevron has a consensus rating of “Buy” and a consensus target price of $138.13.

Shares of NYSE CVX opened at $118.94 on Friday. Chevron Co. has a 1-year low of $107.54 and a 1-year high of $133.88. The stock has a market cap of $227.27 billion, a PE ratio of 32.15, a P/E/G ratio of 2.08 and a beta of 1.12. The company has a current ratio of 1.22, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.05. Chevron had a net margin of 8.79% and a return on equity of 8.19%. The firm had revenue of $43.99 billion for the quarter, compared to analyst estimates of $47.17 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. Equities analysts anticipate that Chevron Co. will post 8.18 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $4.48 annualized dividend and a dividend yield of 3.77%. Chevron’s dividend payout ratio is currently 121.08%.

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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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