Barings LLC Cuts Stake in Chevron Co. (CVX)

Barings LLC cut its position in Chevron Co. (NYSE:CVX) by 31.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 85,065 shares of the oil and gas company’s stock after selling 38,620 shares during the period. Barings LLC’s holdings in Chevron were worth $9,995,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CVX. Shine Investment Advisory Services Inc. purchased a new stake in shares of Chevron in the second quarter worth about $106,000. Acrospire Investment Management LLC boosted its stake in shares of Chevron by 133.3% in the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after buying an additional 800 shares during the last quarter. Accurate Investment Solutions Inc. boosted its stake in shares of Chevron by 59.1% in the third quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after buying an additional 502 shares during the last quarter. Ffcm LLC boosted its stake in shares of Chevron by 121.1% in the second quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock worth $160,000 after buying an additional 822 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in shares of Chevron in the second quarter worth about $160,000. 63.72% of the stock is currently owned by institutional investors and hedge funds.

In other Chevron news, insider Pierre R. Breber sold 23,250 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the completion of the transaction, the insider now owns 42,182 shares of the company’s stock, valued at $5,019,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Patricia E. Yarrington sold 116,857 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $115.29, for a total value of $13,472,443.53. Following the transaction, the chief financial officer now directly owns 39,506 shares of the company’s stock, valued at approximately $4,554,646.74. The disclosure for this sale can be found here. Insiders have sold 250,878 shares of company stock valued at $29,107,461 in the last three months. Insiders own 0.38% of the company’s stock.

A number of brokerages have recently commented on CVX. Credit Suisse Group lowered their target price on Chevron from $130.00 to $129.00 and set a “neutral” rating on the stock in a research note on Monday, February 5th. Vetr downgraded Chevron from a “buy” rating to a “hold” rating and set a $134.35 target price on the stock. in a research note on Thursday, January 11th. Royal Bank of Canada upgraded Chevron from an “underperform” rating to a “sector perform” rating and set a $125.00 target price on the stock in a research note on Friday, February 9th. Wells Fargo & Co lowered their target price on Chevron from $125.00 to $125.00 and set an “outperform” rating on the stock in a research note on Monday, February 5th. Finally, Societe Generale upgraded Chevron from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $130.30.

Chevron Co. (CVX) opened at $113.63 on Thursday. Chevron Co. has a fifty-two week low of $102.55 and a fifty-two week high of $133.88. The company has a market capitalization of $215,830.00, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 2.24 and a beta of 1.15. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). Chevron had a net margin of 6.49% and a return on equity of 5.23%. The firm had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. During the same period in the previous year, the company earned $0.22 EPS. Chevron’s revenue was up 19.4% compared to the same quarter last year. equities research analysts expect that Chevron Co. will post 6.36 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.94%. This is a boost from Chevron’s previous quarterly dividend of $1.08. Chevron’s dividend payout ratio is presently 114.29%.

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Chevron Profile

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 (NYSE:CVX)

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