Versant Capital Management Inc Boosts Holdings in Chevron Corporation $CVX

Versant Capital Management Inc increased its position in Chevron Corporation (NYSE:CVX) by 67.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 9,688 shares of the oil and gas company’s stock after buying an additional 3,908 shares during the quarter. Versant Capital Management Inc’s holdings in Chevron were worth $1,504,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CVX. Kingstone Capital Partners Texas LLC grew its stake in shares of Chevron by 652,139.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after acquiring an additional 83,702,101 shares in the last quarter. Norges Bank acquired a new stake in Chevron during the 2nd quarter valued at approximately $2,721,477,000. Laurel Wealth Advisors LLC increased its holdings in Chevron by 14,194.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock worth $532,984,000 after purchasing an additional 3,696,177 shares during the last quarter. Berkshire Hathaway Inc raised its position in shares of Chevron by 2.9% in the 2nd quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock valued at $17,478,458,000 after purchasing an additional 3,454,258 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Chevron by 4.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock valued at $4,979,255,000 after buying an additional 1,342,723 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of NYSE CVX opened at $165.55 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $152.68 and its two-hundred day moving average price is $153.82. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The stock has a market capitalization of $333.33 billion, a P/E ratio of 23.24, a P/E/G ratio of 10.20 and a beta of 0.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The business had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. During the same period in the prior year, the firm earned $2.48 EPS. The business’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.1%. Chevron’s payout ratio is 96.20%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $160.00 price target (down from $170.00) on shares of Chevron in a report on Friday, October 17th. Mizuho increased their price target on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Hsbc Global Res upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Freedom Capital cut Chevron from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 6th. Finally, Barclays reduced their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $167.14.

Insider Activity

In other news, insider Alana K. Knowles sold 7,956 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $165.05, for a total transaction of $1,313,137.80. Following the completion of the transaction, the insider owned 1,207 shares in the company, valued at approximately $199,215.35. This represents a 86.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael K. Wirth sold 320,700 shares of Chevron stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the completion of the sale, the chief executive officer owned 14,450 shares in the company, valued at approximately $2,355,205.50. This represents a 95.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 631,990 shares of company stock worth $99,716,808. 0.20% of the stock is owned by insiders.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.