Motley Fool Asset Management LLC Makes New Investment in Chevron Corporation $CVX

Motley Fool Asset Management LLC acquired a new position in Chevron Corporation (NYSE:CVXFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 186,332 shares of the oil and gas company’s stock, valued at approximately $28,399,000. Chevron accounts for approximately 1.1% of Motley Fool Asset Management LLC’s investment portfolio, making the stock its 18th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. Core Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter worth about $26,000. Strategic Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter worth about $33,000. Daytona Street Capital LLC purchased a new stake in Chevron in the fourth quarter worth about $44,000. Maseco LLP purchased a new stake in Chevron in the fourth quarter worth about $49,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in Chevron in the third quarter worth about $49,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider owned 8,638 shares in the company, valued at $1,842,485.40. This represents a 82.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 615,200 shares of company stock worth $118,022,760 in the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

Chevron Trading Down 1.3%

NYSE:CVX opened at $186.78 on Wednesday. The company’s 50 day moving average price is $189.80 and its 200-day moving average price is $177.47. Chevron Corporation has a 52 week low of $141.91 and a 52 week high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock has a market cap of $371.99 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 0.63 and a beta of 0.48.

Chevron (NYSE:CVXGet Free Report) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the prior year, the company posted $2.18 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Chevron Corporation will post 15.74 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be issued a $1.78 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.8%. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Barclays upped their price objective on shares of Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 26th. Morgan Stanley upped their price objective on shares of Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Bank of America upped their price objective on shares of Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Melius Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a report on Tuesday, February 17th. Finally, UBS Group increased their price target on shares of Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a report on Monday, May 4th. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.70.

View Our Latest Stock Report on CVX

Chevron Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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