Transamerica Financial Advisors Inc. Acquires Shares of 368 Chevron Co. (NYSE:CVX)

Transamerica Financial Advisors Inc. purchased a new position in Chevron Co. (NYSE:CVX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 368 shares of the oil and gas company’s stock, valued at approximately $46,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. NewSquare Capital LLC raised its position in shares of Chevron by 3,210.6% in the 2nd quarter. NewSquare Capital LLC now owns 13,143 shares of the oil and gas company’s stock worth $1,636,000 after purchasing an additional 12,746 shares during the last quarter. Empire Life Investments Inc. raised its position in shares of Chevron by 201.5% in the 2nd quarter. Empire Life Investments Inc. now owns 150,079 shares of the oil and gas company’s stock worth $18,675,000 after purchasing an additional 100,303 shares during the last quarter. Sage Rhino Capital LLC raised its position in shares of Chevron by 4.5% in the 2nd quarter. Sage Rhino Capital LLC now owns 3,758 shares of the oil and gas company’s stock worth $468,000 after purchasing an additional 162 shares during the last quarter. Gamble Jones Investment Counsel raised its position in shares of Chevron by 1.0% in the 2nd quarter. Gamble Jones Investment Counsel now owns 120,751 shares of the oil and gas company’s stock worth $15,026,000 after purchasing an additional 1,192 shares during the last quarter. Finally, Cresset Asset Management LLC raised its position in Chevron by 43.6% in the 2nd quarter. Cresset Asset Management LLC now owns 35,516 shares of the oil and gas company’s stock worth $4,420,000 after buying an additional 10,784 shares during the last quarter. 65.61% of the stock is owned by hedge funds and other institutional investors.

Shares of Chevron stock traded up $0.77 during trading hours on Thursday, reaching $113.06. 354,405 shares of the stock traded hands, compared to its average volume of 6,203,447. The company has a 50 day moving average price of $119.09 and a 200 day moving average price of $121.24. The firm has a market capitalization of $225.15 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 2.92 and a beta of 0.99. Chevron Co. has a one year low of $100.22 and a one year high of $127.60. 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 announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.53. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The company had revenue of $38.85 billion during the quarter, compared to the consensus estimate of $40.14 billion. During the same period in the previous year, the company posted $1.78 EPS. The firm’s revenue was down 8.0% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post 6.78 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.19 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $4.76 dividend on an annualized basis and a yield of 4.21%. Chevron’s dividend payout ratio is presently 57.70%.

In related news, CFO Pierre R. Breber sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $124.97, for a total value of $1,874,550.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael K. Wirth sold 33,750 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $125.00, for a total value of $4,218,750.00. Following the completion of the transaction, the chief executive officer now directly owns 33,750 shares in the company, valued at $4,218,750. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,750 shares of company stock worth $10,648,200. 0.31% of the stock is owned by insiders.

CVX has been the subject of a number of recent analyst reports. Barclays initiated coverage on Chevron in a research report on Monday, August 19th. They issued an “overweight” rating and a $145.00 target price for the company. Cowen set a $140.00 target price on Chevron and gave the stock a “buy” rating in a research report on Friday, August 30th. Independent Research set a $127.00 target price on Chevron and gave the stock a “neutral” rating in a research report on Thursday, August 29th. BMO Capital Markets initiated coverage on Chevron in a research report on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 target price for the company. Finally, ValuEngine raised Chevron from a “sell” rating to a “hold” rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $136.22.

Chevron Company 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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