Iberiabank Corp Grows Position in Chevron Co. (NYSE:CVX)

Iberiabank Corp increased its holdings in Chevron Co. (NYSE:CVX) by 2.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,961 shares of the oil and gas company’s stock after acquiring an additional 2,006 shares during the quarter. Chevron makes up about 1.1% of Iberiabank Corp’s investment portfolio, making the stock its 24th largest position. Iberiabank Corp’s holdings in Chevron were worth $8,920,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. raised its holdings in Chevron by 2.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 29,423 shares of the oil and gas company’s stock worth $2,625,000 after purchasing an additional 653 shares in the last quarter. Wallington Asset Management LLC grew its position in shares of Chevron by 329.2% in the 1st quarter. Wallington Asset Management LLC now owns 9,000 shares of the oil and gas company’s stock worth $6,521,000 after buying an additional 6,903 shares during the last quarter. Midwest Professional Planners LTD. raised its stake in shares of Chevron by 8.2% during the 1st quarter. Midwest Professional Planners LTD. now owns 3,221 shares of the oil and gas company’s stock worth $233,000 after acquiring an additional 244 shares in the last quarter. Personal Capital Advisors Corp lifted its position in Chevron by 8.8% during the first quarter. Personal Capital Advisors Corp now owns 470,075 shares of the oil and gas company’s stock valued at $28,962,000 after acquiring an additional 38,106 shares during the last quarter. Finally, Hanson & Doremus Investment Management boosted its stake in Chevron by 4.3% in the first quarter. Hanson & Doremus Investment Management now owns 7,048 shares of the oil and gas company’s stock valued at $511,000 after acquiring an additional 293 shares in the last quarter. 64.60% of the stock is owned by institutional investors.

Shares of CVX opened at $83.94 on Friday. Chevron Co. has a 52 week low of $51.60 and a 52 week high of $125.27. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $156.71 billion, a price-to-earnings ratio of 40.95, a PEG ratio of 21.46 and a beta of 1.29. The stock’s 50-day moving average price is $88.84 and its 200-day moving average price is $92.49.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 31st. The oil and gas company reported ($1.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.66). Chevron had a return on equity of 8.28% and a net margin of 2.71%. The company had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $21.71 billion. During the same quarter in the previous year, the company earned $1.77 EPS. The firm’s quarterly revenue was down 64.1% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Co. will post 0.8 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $1.29 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 6.15%. Chevron’s payout ratio is 82.30%.

CVX has been the subject of a number of recent analyst reports. Raymond James raised their price objective on Chevron from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, July 20th. Jefferies Financial Group restated a “buy” rating and set a $92.00 price objective on shares of Chevron in a report on Friday, May 1st. Morgan Stanley boosted their target price on shares of Chevron from $103.00 to $107.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. SunTrust Banks initiated coverage on shares of Chevron in a research note on Thursday, July 23rd. They set a “buy” rating and a $120.00 price objective for the company. Finally, downgraded Chevron from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $111.25.

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.

Featured Article: Diversification in Investing

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.