Moors & Cabot Inc. Increases Position in Chevron Corporation (CVX)

Moors & Cabot Inc. boosted its position in Chevron Corporation (NYSE:CVX) by 8.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,507 shares of the oil and gas company’s stock after buying an additional 4,785 shares during the quarter. Chevron accounts for approximately 1.0% of Moors & Cabot Inc.’s holdings, making the stock its 13th biggest holding. Moors & Cabot Inc.’s holdings in Chevron were worth $6,311,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Everett Harris & Co. CA raised its stake in shares of Chevron by 0.4% in the 1st quarter. Everett Harris & Co. CA now owns 291,943 shares of the oil and gas company’s stock valued at $31,346,000 after purchasing an additional 1,142 shares in the last quarter. Paragon Capital Management Ltd acquired a new stake in shares of Chevron in the 1st quarter valued at about $1,459,000. Nikko Asset Management Americas Inc. raised its stake in shares of Chevron by 7.9% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 239,730 shares of the oil and gas company’s stock valued at $25,740,000 after purchasing an additional 17,600 shares in the last quarter. BTC Capital Management Inc. raised its stake in shares of Chevron by 0.6% in the 1st quarter. BTC Capital Management Inc. now owns 89,852 shares of the oil and gas company’s stock valued at $9,647,000 after purchasing an additional 574 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its stake in shares of Chevron by 15.6% in the 1st quarter. Hennessy Advisors Inc. now owns 106,975 shares of the oil and gas company’s stock valued at $11,486,000 after purchasing an additional 14,425 shares in the last quarter. Hedge funds and other institutional investors own 63.93% of the company’s stock.

In other Chevron news, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $120.00, for a total value of $3,060,000.00. Following the completion of the transaction, the vice president now owns 25,500 shares in the company, valued at approximately $3,060,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Patricia E. Yarrington sold 13,143 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the completion of the transaction, the chief financial officer now owns 17,981 shares of the company’s stock, valued at approximately $2,067,994.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 314,000 shares of company stock valued at $36,540,822. 0.38% of the stock is owned by insiders.

Shares of Chevron Corporation (NYSE CVX) opened at $120.42 on Tuesday. The firm has a market cap of $227,772.92, a PE ratio of 33.59, a P/E/G ratio of 3.97 and a beta of 1.21. Chevron Corporation has a 12 month low of $102.55 and a 12 month high of $122.30. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The firm had revenue of $36.21 billion for the quarter, compared to analyst estimates of $34.06 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. Chevron’s quarterly revenue was up 20.1% on a year-over-year basis. analysts expect that Chevron Corporation will post 4.32 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 17th were given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.59%. The ex-dividend date was Thursday, November 16th. Chevron’s dividend payout ratio (DPR) is 125.95%.

A number of brokerages have recently issued reports on CVX. Credit Suisse Group began coverage on shares of Chevron in a research note on Monday. They issued a “hold” rating and a $123.00 target price on the stock. UBS set a $120.00 target price on shares of Chevron and gave the company a “neutral” rating in a research note on Monday, December 4th. Wells Fargo & Company restated a “market perform” rating and issued a $108.00 target price (up previously from $100.00) on shares of Chevron in a research note on Tuesday, October 3rd. Jefferies Group restated a “buy” rating and issued a $137.00 target price on shares of Chevron in a research note on Thursday, October 19th. Finally, Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a research note on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. Chevron currently has an average rating of “Hold” and an average target price of $121.22.

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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.

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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